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.
Scientific knowledge is advanced through a process known as the scientific method.
Answer:
After the Emancipation Proclamation was issued thousands of slaves were freed from ten Confederate states that were in rebellion. The Proclamation also allowed African Americans to join the Union army and help fight the Confederates which increased the Union's numbers by about 200,000.
In other words,
Thousands of slaves joined the Union armies
Explanation:
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The Phoenicians traded with weaker countries financially taking them over before physically taking them over and using their exports to turn a profit
