1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Papessa [141]
3 years ago
10

What necessary condition for the presence of competition in a market?

Business
2 answers:
Lady_Fox [76]3 years ago
6 0

Answer: See explanation below.

Explanation: The following are necessary conditions for competition in a market.

1. There are many firms that produce identical products or services. This will foster competition among the firms.

2. There and many buyers available to buy a particular product or service, and there are also many sellers who are ready to sell a product or service.

3. Free entry and free exit of the market. This means that there a little or no restrictions for entering or leaving a market. Firms can come and go as they please.

4. Presence of relevant information to buyers and sellers in order that they might make rational buying and selling decisions, especially information about price.

5. There is little or no government regulation.

Arlecino [84]3 years ago
3 0

Answer:

There are several conditions which are required for there to be a perfect competition in a market or economy.

Let me highlight those, there should be many firms in the market which have identical product offerings with not so variable prices. Secondly, the size of the firms on the market should not be big in terms of its sales. Thirdly, the market forces determine the demand and supply in the market. Fourthly, firms should be able to easily enter and exit the market as per their will.  Lastly, there are a number of sellers and buyers in the market for a particular product.

Hope this helps you.

Good Luck.

You might be interested in
_____ is the act of negotiating with employers regarding employment issues by employees who are members of a union.
jek_recluse [69]

Answer:

Collective bargaining

Explanation:

Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, ways to balance work and family, and more.

3 0
2 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $82,000 and $4,500, r
Cerrena [4.2K]

Answer: $10,700

Explanation:

The Uncollectible Account Expense is the Accounting Adjustment made when a Receivable defaults on their debt and it can be calculated using the following formula,

= Uncollectible Amount written off + Closing Balance - Opening Balance.

Now the balances are as follows,

Opening Balance for Year 2 = 4,500

Closing Balance for Year 2 = 6,800

Uncollectible Amount written off during Year 2 = 8,400

Calculating therefore,

= 6,800 + 8,400 - 4,500

= $10,700

Allegheny will report $10,700 as Uncollectible Accounts Expense for Year 2.

3 0
3 years ago
The most direct way for Jonathan to gain on the job expernice while attending school for
ehidna [41]
D) a work-study work program
7 0
3 years ago
Why are business office established​
madam [21]

Answer:

Mark me Brainliest

Explanation:

A business office is one which is established by the individuals or governments for the production and distribution of goods and services with a view of earning money by satisfying the consumers.

4 0
3 years ago
Cameron Tiller is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and do
kozerog [31]

Answer:

His regular earnings ( based on regular rates) is $480 while his total earnings for the week ended March 15 is $738.

Explanation:

Regular rate = $12 per hour

Rate for hours in excess of 40 hours per week

= (3/2) × $12

= $18

Rate for hours for Sunday is double

= 2 × $12

= $24

During the week ended March 15, 9 hours each day from Monday through Friday, 6 hours on Saturday, and 4 hours on Sunday

Period in excess of 40 hours during the week

= (9 × 5) + 4 - 40

= 9

Total regular earning = 40 × $12

                                   = $480

Additional earnings = (9 × $18) + (4 × $24)

                                 = $162 + $96

                                 = $258

Total earnings = $480 + $258

                        = $738

4 0
3 years ago
Other questions:
  • Game theory is useful in analyzing oligopoly behavior because: advertising is so common among oligopoly firms. it explains why o
    14·1 answer
  • Producers believe the economy is headed for a recession, so they reduce their purchases of machinery and equipment.
    12·1 answer
  • In the United States, many local communities provide public libraries and parks. This is an example of a local government fullin
    6·2 answers
  • Edward is considering buying a home using credit. What are three questions he should ask himself to ensure he is using credit re
    13·1 answer
  • Manny has just filled out his deposit ticket for his savings account. he hands it to the teller and the teller hands it back to
    15·2 answers
  • Fabri Corporation is considering eliminating a department that has an annual contribution margin of $27,000 and $73,000 in annua
    7·1 answer
  • Describe an important difference in the way an economist and a businessperson might view a monopoly.
    15·1 answer
  • Binta always consumes Chick-fil-A chicken with Chocolate Milkshake, she will only have some utility if she consumes them togethe
    15·1 answer
  • Which case below best represents a case of price​ discrimination? A. A professional baseball team pays two players with differen
    13·1 answer
  • In a competitive market, the price of a product: ___________
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!