--%>

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 : Resolving disequilibrium between the

    Assume that you consume bananas and apples, and the marginal utility of the last apple consumed is 6 times the marginal utility of last banana consumed. Though, the price of apples is only 3 times the price of bananas. This disequilibrium among the two goods can be re

  • Q : Principles of macroeconomics What are

    What are the “powers of the Federal Reserve

  • Q : FED targeting the interest rate versus

    What is the main difference between FED targeting the interest rate versus inflation and which one is Bernanke using nowadays? Name some countries which use this method nowadays.

  • Q : McConnell Brue Flynn 19e What

    What relationship does the MPC bear to the size of the multiplier

  • Q : Subjective worth of Consumer Surplus

    The consumer gains from being capable to purchase at a single price rather than paying all that the particular quantity of the good is subjectively worth are: (i) Adverse selections. (ii) Market exploitation. (iii) Consumer surpluses. (iv) Moral hazards.

  • Q : Income approach to evaluate national

    Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha

  • Q : Fiscal deficit in government budget

    What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.

  • Q : Full-employment Define the "

    Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.

  • Q : Inflation Inflation is frequently

    Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?

  • Q : Define Macro Economics Macro Economics

    Macro Economics: Macro economics studies the economy as an entire.