Economics:Economics is defined as the study of the production, consumption, and wealth levels in a market. The field is broken into two distinct topics: microeconomics and macroeconomics.Answer and Explanation: Become a member and unlock all Study Answers Start today. Try it now Create an...
An economics major examines resource allocation, incentives and wealth in fields like business management, law and public affairs.
Define Market Structure in Economics? Define Perfect Competition and Imperfect Competition. What are the necessary conditions for a perfect competitive market structure to exist? Give an example of this type of market structure. What is the pricing structure in a perfect competi...
What’s the difference between a mutual fund and an ETF? Are Christian mutual funds legit? This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestorPro. Ramsey Solutions is a paid, non-client...
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国外学经济的进,关于perfect competition and monopolistic competition(A)What are the main difference between perfect competition and monopolistic competition market structures?(B)Compare and contrast over the long-run if subnormal profits are being made in short-run.(use diagrams to help explain your an...
Simply stating, Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. It helps in explaining how people interact within markets to get what they want orachieve certain goals. Economics is a driving force of human interact...
(A)What are the main difference between perfect competition and monopolistic competition market structures?(B)Compare and contrast over the long-run if subnormal profits are being made in short-run.(use diagrams to help explain your answer)
Every trade needs at least two parties, a buyer and a seller. In some cases, athird partyis required to introduce competition and balance the market. As such, a market in a state ofperfect competition, among other things, is characterized by a high number of active buyers and sellers. Be...
Acapitalist economyis a type of free market economy; the profit motive drives all commerce and forces businesses to operate as efficiently as possible to avoid losingmarket shareto competitors. In capitalism, businesses are owned by private individuals, and these business owners hire workers in retur...