--%>
Assignment Help - homework help

Competition among buyers and sellers is a control

Illustrate Competition among buyers and sellers is a controlling mechanism?

E

Expert

Verified

1. Large numbers of sellers mean that no single producer or seller can control the price or market supply.

2. Large number of buyers means that no single consumer or employer can control the price or market demand.

3. Depending upon market situation, manufacturers can enter and leave industry easily.

   Related Questions in Business Economics

  • Q : Explain about Market Structures briefly

    Explain about Market Structures briefly.

    		•
  • Q : Reducing output of other good When the

    When the production possibilities frontier in a proficient economy is not growing, raising the output of one good always needs: (i) Increasing the output price for the other good. (ii) Bigger amounts of resources. (iii) Decreasing the output of other

    		•
  • Q : What is the opportunity cost of

    What is the opportunity cost of attending college?  In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs.  How might this difference relate to opportunity costs?

    		•
  • Q : Explain the Trade pattern of U.S. and

    Explain the Trade pattern of U.S. and World Trade?

    		•
  • Q : Reason of Economic problem Why an

    Why an economic problem does arise? Answer: It arises due to following reasons: A) Shortage of resources. B) Alternative utilizations of resources. C) Limitless wants and limited resources.

    		•
  • Q : Firm costs and revenues Question:  You

    Question:  You are given the following data about two firms: FIRM A Quantity 0

    • Q : Significant that economics is not a

    Why is it significant that economics is not a laboratory science?  What problems may be evolved in deriving and applying economic principles?
  • Q : Decreases in opportunity costs of

    The opportunity costs of production and consumption for most resources and goods tend to be decreased by: (w) private monopoly power. (x) price floors. (y) intense competition. (z) price ceilings. Hey friends pleas

    		•
  • Q : Freedom is to some extent illusory

    Illustrate “freedom is to some extent illusory”?

    		•
  • Q : Illustrate the Optimal or best

    Illustrate the Optimal or best product-mix and also Law of increasing opportunity costs?

    		•