--%>
Assignment Help - homework help

Competitive market

What do you mean by the term Competitive market?

E

Expert

Verified

Competitive market: A competitive market is a market, in which there are lots of buyers and sellers of an identical product and hence each has an insignificant impact on the market price. Other kinds of markets comprise monopoly, in which there is just one seller, oligopoly, in which there are some sellers which do not always compete forcefully, and monopolistically competitive markets, in which there are lots of sellers, each providing a slightly distinct product.

   Related Questions in Macroeconomics

  • Q : Define Price What do you understand by

    What do you understand by the term Price (P) at Market in Economy?

    		•
  • Q : Define Administrative revenue

    Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p

    		•
  • Q : Economic growth model Explain the main

    Explain the main features of Harrod - Domar Growth model. How does the Harrod Domar model explain the occurrence of trade cycles?

    		•
  • Q : What is multiplier Multiplier : The

    Multiplier: The Multiplier is the ratio of change in income by the change in investment. Multiplier (k) = ΔY/ΔI

    		•
  • Q : Collecting cost-Revenue data from

    Collect cost, revenue data or other relevant data from the airbus industry and describe how you would modify the data to make it relevant to decisions a manager should make.

    		•
  • Q : Tax shifting backward totally A tax

    A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu

    		•
  • Q : Explain model of economy growth. The

    The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div

    		•
  • Q : Money-just another good ‘What occurs in

    ‘What occurs in the money market when there is a raise in income?’

    		•
  • Q : FX Rates & The Balance of Payments The

    The Financial Account captures international fund flows due to

    		•
  • Q : Relevance of matter-SWOT analysis

    Relevance of matter: Relevance of matter is very much important while choosing any goals. Are the goals relevant to the vision of the company? A goal of having maximum number of customers seems fantabulous, however at the same time bank needs to make

    		•