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: propaganda is based on supposition of malleability of human nature. In late 19th century there were many theories (psychology of masses, i.e.Gustav Le Bon or Italian sociology of elites, i.e. Vilfredo Pareto, Mosca etc etc.) which propounded idea of malleabilty of human nature and human psyche. The same can be said about psychoanalysis. The result of that was use of propaganda in 1930s and 1940s (press, radio), establishmemt of ministries of propaganda etc etc. The impact was only short-lived because the intention was to monopolize public space, immunize some social theories and produce closed society.
Explanation: propaganda contradicts idea of democracy. Democracy requires plurality of thoughts, ideas, patterns, behaviour, attitudes, free circulation of all that. Democracy requires open society.
Answer:
Find out the difference between means and resources
