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.
What is cultural diversity? Diversity is nothing more than a difference from the majority. In any culture there is a majority and many minorities. Culture is a set of norms that set standards for a society of what is acceptable behavior.
In every culture there are basic standards for social interaction such as personal space distance, eye contact, amount of body language displayed in public, negotiating style, etc. In America, we stand about eighteen inches apart when engaged in normal conversation; prefer very direct eye contact; are pretty demonstrative with body language and negotiate very directly always asking the other party for their “bottom line”. In other cultures they may stand closer or farther than we are comfortable, may view direct eye contact as rude, be more or less open to displaying body language and negotiate more indirectly.
In America, many of us have a peculiar habit of assuming that those who differ from our norms are wrong. We tend to view the world from a rather myopic view leading to those outside this country calling us “Ugly Americans”.
Cultural diversity makes our country richer by making it a more interesting place in which to live. Just think how boring a meal would be without Chinese, Mexican, Japanese, Italian, German, French or Indian food!
Cultural diversity also makes our country stronger and better able to compete in the new global economy. People from diverse cultures bring language skills, new ways of thinking, creative solutions to difficult problems and negotiating skills.
Answer:
Their are Geniuses, some of them answered my questions!
