Global media giants are taking hold of media industries worldwide. Their ability to successfully promote their programming in foreign countries raises issues concerning cultural imperialism.

Cultural imperialism or cultural colonialism is a process of promoting a culture over another. The promotion of tv programs of foreign countries with the aid of satellite television networks is raising concerns of cultural colonialism. Especially in Africa, individuals believe that the promotion of foreign programs is eroding their existing cultural practices and its being replaced by foreign cultural practices which are promoted on televisions of foreign origin.

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3 years ago

What are the likely reasons that the market for dress shirts is not perfectly competitive?

Vaselesa [24]

the likely reasons that the market for dress shirts is not perfectly competitive are<u> dress shirts are not a standardized (homogeneous) product.</u>

<h3>What is being perfectly competitive?</h3>

A perfectly competitive market, often referred to as an atomistic market, is defined by multiple idealizing criteria, which are together referred to as perfectly competitive, or atomistic competition, in general equilibrium theory.

It has been shown in theoretical models with perfectly competitive that a market will find equilibrium when the amount supplied for each good or service, including labor, equals the amount sought at the current price.

A Pareto optimal equilibrium would be this one. Perfectly competitive marketplaces are not always productively efficient in the short run because the output does not always occur where marginal cost and average cost are equal.

Long-term productive efficiency, however, comes about as new businesses enter the sector. Price and cost are lowered to the minimum of long-term average costs due to competition.

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1 year ago