--%>
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 : Circular flow model of the private

    I have a problem in economics on Circular flow model of the private sector. Please help me in the following question. The simple circular flow model of private sector doesn’t comprise: (i) Firms. (ii) Product markets. (iii) Government agencies.

    		•
  • Q : Laissez-faire philosophy of government

    As per to the laissez-faire philosophy of government,: (1) economy works best while all investment decisions are centralized. (2) market system works best along with only minimal government intervention. (3) government must be restricted to stabilizin

    		•
  • Q : Affects the location of the production

    Explain how, if at all, each of the following affects the location of the production possibilities curve?

    		•
  • Q : Illustrate receipts from several

    Illustrate how receipts come from several sources in Federal Finance?

    		•
  • Q : What do you mean by spillover What do

    What do you mean by spillover. Write short note on it?

    		•
  • Q : Determine the productively efficiency

    To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif

    		•
  • Q : Define the terms Plant Define the

    Define the following terms?

    		•
  • Q : Problem on opportunity cost buying a

    After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o

    		•
  • Q : Reciprocal Trade Agreements Act had

    How Reciprocal Trade Agreements Act had goal of reducing tariffs?

    		•
  • Q : Are quantities supplied-demanded equal

    In perfectly competitive market, the market demand curve is given by Qd = 10 − Pd, and the market supply curve is given by Qs = 1.5Ps. a) Prove that the market equilibrium price and

    		•