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:
A. interest in a product and the price a consumer pays.
Explanation:
I think it takes 8 year to end the Revolutionary War. It start in <span>April 19, 1775 and end in September 3, 1783.
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All of these are sources of authority
Answer: it depends on the situation
Explanation:
Lets take an example of the Boston Tea Party, that took part in 1773. The Americans were furious to have found out that the English were taxing too much money on goods such as tea. They wanted to use these taxes for the Monarchy back in England. The Americans Protested on this cause and wanted to revolt as well. That was one of the main causes of the revolutionary war.
If you want more examples please inform me! :)
