--%>

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 : In long-run equilibrium earning of zero

    When, in a perfectly competitive industry, where the market price facing a firm is above its average total cost on the output here marginal revenue equivalents marginal cost, in that

  • Q : Scientific method how does it relate to

    What is the scientific method and how does it relate to theoretical economics?  What is the difference between a hypothesis and an economic law or principle?

  • Q : Describe cost of equity shares Briefly

    Briefly describe cost of equity shares? And also write down way to evaluate the cost of equity shares?

  • Q : Initial systematic and popular

    The initial systematic and popular description of capitalism was explained in: (1) Sir Thomas Mun’s England’s Treasure by Foreign Trade. (2) Joseph A. Schumpeter’s Capitalism, Socialism, and Democracy. (3) John Maynard Keynes’

  • Q : Illustrate Qualification in

    Illustrate Qualification in International Trade?

  • Q : Fixed or managed exchange rate

    Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade

  • Q : Impact of dollar on aspects of

    Question Discuss the impact of dollar depreciation on the various aspects of American Economy. Devaluation of the DollarIntroduction:

  • Q : Public policies for low-income Fuel

    Fuel stamp programs which subsidize heating oil purchases through low-income households encourage those families to: (w) create more income by working. (x) particularly conserve on their use of fuel. (y) live along with less purchasing power. (z) subs

  • Q : Forcast 9. The following table shows

    9. The following table shows annual sales data for Stuff Happens, Inc., over the ten-year 1998-2008 period: Year Sales ($ Millions) 1998 $2.0 1999 2.2 2000 2.4 2001 2.6 2002 2.8 2003 3.0 2004 3.2 2005 3.5 2006 3.8 2007 4.1 2008 4.3 A. Calculate the 1998-2008 growth rate in sales using

  • Q : What does financial leverage specify

    What does financial leverage specify? And also states its limitations?