Perfect competition is the simplest market structure, where the market is assumed to be in equilibrium and that all sellers sell the same product at the same price. The four conditions for perfect competition are:
1. There are many buyers and sellers in the market so that no one individual or seller can influence the price of the products, goods, and services.
2. Identical products are offered by the sellers
3. Both the buyers and the sellers are well-informed about the products and want to maximize profit.
4. Entry and exit to and from the market can be done freely by the sellers and buyers.
There is no market which displays 100% perfect competition. However, markets exhibiting nearly perfect competition do exist. These include street food vending and agricultural markets.
Answer:
Use a random selection of numbers
Explanation:
Thi is because PIN (personal identification number) is a personal but secret code associated with ATM card, that is used in protecting the privacy of individuals' accounts and allows the particular individuals to access them.
However, to have a maximum protection against anyone else being able to find out what the PIN is, the numbers should not consist numbers that are easily associated with the person choosing the PIN, for example birth date, telephone number, or street number address, as these can easily be guessed by hackers.
The correct answer is a companionate relationship.
A companionate relationship between grandparents and their grandchildren is characterized by grandparents who are regularly in contact with or interactive with their grandchildren. Companionate grandparents are more friendly, supportive and relaxed in their bond with their grandchildren. Rather than focusing on disciplining their grandchildren, companionate grandparents serve as companions or "pals" to their grandchildren.
Answer:
Oil
Explanation:
<em>Venezuela provides Cuba with a reduced cost on oil. The reason being is because it has to be exported from Venezuela to Cuba, while "fish", "wheat", and "sugar cane" can all be grown and produced in Cuba already.</em>
