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.
<span>The GPS is used to analyze the physical environment as it can locate different environmental locations on a map and show where they are in conjunction with each other. This can help create map points when one is traveling or if a person is studying a specific environment, it makes it so they can see what the area looks like.</span>
Answer:
<u>Perception </u> is a three phase process of selecting, organizing and interpreting information, objects, people, events or situations.
Explanation:
Perception involves three steps.
1. Selecting
In the first stage we select that stimuli which attracts us the most by ignoring the others about making perception about any event or object.
2. Organizing
In the second stage we organize the information about our selection.
3. Interpretation
In the third step we interpret that information in a meaningful way that makes sense to us.
Answer:
I think it is the third answer
Bronze is an alloy of copper and tin
