Chapter 4~the private sector
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The private sector refers to the part of the economy owned by individuals and operated for personal benefit. Exchanges in the private sector contribute to economic efficiency as individual choice and competition improve efficiency. Private goods are owned privately and benefit only their owners, while the public sector is owned by society as a whole. Private sector exchanges involve both parties benefitting as buyers and sellers transact. Efficiency results from businesses achieving maximum benefit from resources, and competition forces less efficient companies out of the market to the advantage of consumers. The private sector market establishes prices through competition and provides choices to satisfy consumers. Producers must meet consumer wants and needs efficiently to succeed against other producers.
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14 Monopolistic competition
1) Monopolistic competition is an imperfect market structure between perfect competition and monopoly. It is characterized by many small businesses that sell differentiated products that are close substitutes for one another.
2) Firms have some control over prices under monopolistic competition. While there are many buyers and sellers, product differentiation gives firms some monopoly power over their brand.
3) In both the short run and long run, a monopolistically competitive firm will be in equilibrium when marginal revenue equals marginal cost, allowing the firm to maximize its profits. In the short run, firms can earn supernormal profits if price is above average cost.
Monopolistic Competition
A2 Microeconomics: This is a revision presentation on aspects of monopolistic competition designed for A2 business economics students
Market Structure.wewrtfghgdsvbncvbdfgdfg
Market structures vary based on the number and size of firms in an industry, the type of products produced, and the level of competition. There are four main types of market structures: perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition is theoretical with many small firms, homogeneous products, and no barriers to entry or exit. Monopolistic competition has many firms producing differentiated products. Oligopoly has a small number of large firms, and monopoly has a single dominant firm producing unique products with no close substitutes.
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Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
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Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
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Chapter 5
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Chapter 6
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Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
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2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
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