Answer:
Firms are said to be in perfect competition when the following conditions occur: (1) many firms produce identical products; (2) many buyers are available to buy the product, and many sellers are available to sell the product; (3) sellers and buyers have all relevant information to make rational decisions about the product being bought and sold; and (4) firms can enter and leave the market without any restrictions—in other words, there is free entry and exit into and out of the market.
Explanation:
A perfectly competitive firm is known as a price taker, because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will lose all of its sales to competitors. When a wheat grower, as discussed in the Bring it Home feature, wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to check. The market price is determined solely by supply and demand in the entire market and not the individual farmer. Also, a perfectly competitive firm must be a very small player in the overall market, so that it can increase or decrease output without noticeably affecting the overall quantity supplied and price in the market.
A perfectly competitive market is a hypothetical extreme; however, producers in a number of industries do face many competitor firms selling highly similar goods, in which case they must often act as price takers. Agricultural markets are often used as an example. The same crops grown by different farmers are largely interchangeable. According to the United States Department of Agriculture monthly reports, in 2015, U.S. corn farmers received an average price of $6.00 per bushel and wheat farmers received an average price of $6.00 per bushel. A corn farmer who attempted to sell at $7.00 per bushel, or a wheat grower who attempted to sell for $8.00 per bushel, would not have found any buyers. A perfectly competitive firm will not sell below the equilibrium price either. Why should they when they can sell all they want at the higher price? Other examples of agricultural markets that operate in close to perfectly competitive markets are small roadside produce markets and small organic farmers.
A military coup in Spain encouraged Agustín de Iturbide to help the cause of freedom in Mexico.
A) Spain
Answer:
It provides insurance against savings and loan failures.
Explanation:
the Federal Savings and Loan Insurance Corporation, also known as the FSLIC, was an institution meant to administer deposit insurance for loan and savings institutions in the US. After The Final Institutions Reform, Recovery, and Enforcement Act from 1989 (also known as the FIRREA), the FSLIC was dismantled and the responsibilities of that institution were passed to the Federal Deposit Insurance Corporation (FDIC).
The imaginary line of secrecy and mistrust is called the iron curtain.
Answer:
During the World War 1 the US were allies to the countries affected during the War by supplying food and giving them aid by send troops and other resources which helped the allies win the war
Explanation:
WWI was largely a stalemate until the US entered the war. Its large population and many resources tipped the balance and allowed the Allied Powers to win the war soon after the US entered. ... The American troops were fresh because we didn't join the war until April 1917. Our rested troops were a big asset for the Allies.
