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.
Free market is run by the firms and households mainly. They control where resources are allocated, to which products production. There is minimal or no government intervention in the Free market economy. All the government can really do is policing, maximum.
Social market economy is like a combination of planned economy and free market economy, run by all three: households, firms and the government. The government has more power in this, it can do more things, it has more control. There is more government intervention in this economy than in a free market economy.
According to the mere exposure effect, Xavier will be most likely to make friends with : Bill, his roommate
What is exposure effect?
According to a psychological phenomena known as the "exposure effect," people tend to favor items just because they are familiar with them. This effect is sometimes referred to as the familiarity principle in social psychology. Many other types of objects, including words, Chinese characters, artworks, photographs of faces, geometric patterns, and noises, have been used to demonstrate the effect. According to research on interpersonal attraction, people view a person to be more appealing and liked the more frequently they interact with them. The effect was first studied in detail by Gustav Fechner in 1876. The impact was also noted by Edward B. Titchener, who spoke of the "glow of warmth" experienced in the presence of something familiar.
Learn more about exposure effect with the help of given link:-
brainly.com/question/17517161
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The nervous system, because it shows how the genes are generated
