Types of Competition
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The document discusses the four main types of competition: perfect competition, monopolistic competition, oligopoly competition, and monopoly competition. Perfect competition is characterized by many small businesses, homogenous products, free entry and exit into the market, and perfect information. Monopolistic competition has many businesses but differentiated products, while oligopoly has a small number of interdependent competitors. Monopoly exists when there is only one provider of a product or service without close substitutes. Examples of each type are given.
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This document discusses monopoly and price determination under monopoly. It defines monopoly as a market situation with a single seller and no close substitutes. A monopoly firm is a price maker that can influence the price of its product. The document examines how a monopoly firm determines price and equilibrium in the short and long run through total revenue and cost analysis and marginal revenue and marginal cost analysis. It maximizes profits by producing where marginal cost equals marginal revenue.
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Demand.
This document discusses demand, factors that affect demand, and the elasticity of demand. It defines demand as the quantity of a commodity a consumer is willing to buy at a given price and time. Demand is affected by the price of the commodity, prices of substitutes and complements, income, tastes, and expectations. The law of demand states that, all else equal, demand increases when price decreases and decreases when price increases. Elasticity of demand measures responsiveness of quantity demanded to price changes. It is measured using total expenditure, percentage, and point elasticity methods. Factors like availability of substitutes and nature of the good impact elasticity. Demand can be perfectly elastic, perfectly inelastic, or elastic.
OLIGOPOLY & MONOPOLISTIC COMPETITION
This document discusses oligopoly and monopolistic competition. It defines oligopoly as a market with a few sellers selling homogeneous or differentiated products. Key characteristics of oligopoly include few sellers, interdependence between sellers, and uncertainty. The document also describes types of oligopoly markets like price wars and collusion. It discusses the kinked demand curve model of price rigidity in oligopoly. The document then defines monopolistic competition as a market with many producers of differentiated products having some monopoly power and free entry/exit. It notes characteristics like product differentiation and selling costs. [/SUMMARY]
Market structure
This document defines different types of market structures:
- A market allows buyers and sellers to interact and exchange goods/services. It can be defined by a geographic area.
- Market structures include perfect competition, monopolistic competition, oligopoly, duopoly, monopoly, and cartels.
- Perfect competition has many small sellers/buyers of homogeneous products, no entry/exit barriers, and price-taking firms. Monopolistic competition has differentiated products. Oligopolies and duopolies have a small number of interdependent firms. Monopolies are the sole providers of goods/services and can influence prices. Cartels explicitly collude to regulate supply and prices.
Pricing decisions under different market structures
This document summarizes pricing strategies under different market structures:
- Perfect competition firms are price takers and price is determined by market supply and demand.
- Perishable goods must be sold at the market price on the day, while non-perishable goods can be stored and sold when prices are higher.
- Monopolies are price makers that charge high prices to earn monopoly profits through trial and error or by setting price where marginal revenue equals marginal cost.
- Under monopolistic competition, firms set differentiated prices and the demand curve is elastic. In long run, entry of new firms eliminates economic profits.
- Oligopolies may engage in price rigidity, non-price
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Market structure
This document defines different types of market structures:
- A market allows buyers and sellers to interact and exchange goods/services. It can be defined by a geographic area.
- Market structures include perfect competition, monopolistic competition, oligopoly, duopoly, monopoly, and cartels.
- Perfect competition has many small sellers/buyers of homogeneous products, no entry/exit barriers, and price-taking firms. Monopolistic competition has differentiated products. Oligopolies and duopolies have a small number of interdependent firms. Monopolies are the sole providers of goods/services and can influence prices. Cartels explicitly collude to regulate supply and prices.
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This document summarizes pricing strategies under different market structures:
- Perfect competition firms are price takers and price is determined by market supply and demand.
- Perishable goods must be sold at the market price on the day, while non-perishable goods can be stored and sold when prices are higher.
- Monopolies are price makers that charge high prices to earn monopoly profits through trial and error or by setting price where marginal revenue equals marginal cost.
- Under monopolistic competition, firms set differentiated prices and the demand curve is elastic. In long run, entry of new firms eliminates economic profits.
- Oligopolies may engage in price rigidity, non-price
monopoly
This document presents information about monopoly, including definitions, features, types, and price determination under short-run and long-run conditions. It was submitted by a group of students to Dr. Ashish Pareek. Monopoly is defined as a market situation where there is a single seller of a product without close substitutes. Key features include one seller facing many buyers, restrictions on entry of new firms, and the seller being a price maker. The document also discusses monopoly's demand and revenue curves, and how a monopolist may earn super normal profits, normal profits, or face minimum losses in the short-run depending on costs and revenues.
Monopolistic Competition
1) Monopolistic competition describes an imperfect market structure where many small businesses produce differentiated products. Examples include coffee shops, hair salons, and pizza delivery services.
2) In the short run, firms in monopolistically competitive markets can earn supernormal profits by producing at a quantity where marginal cost equals marginal revenue. In the long run, free entry and exit of competitors drives profits down to normal levels.
3) Monopolistically competitive markets are not perfectly efficient. Prices exceed marginal costs, leading to allocative inefficiency. Advertising spending may also represent an inefficient use of resources.
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This document discusses the concept of elasticity of demand as introduced by Marshall. It defines elasticity of demand as the ratio of percentage change in quantity demanded to the percentage change in price. There are three types of elasticity: price, income, and cross elasticity. Factors that influence elasticity include the nature of the commodity, availability of substitutes, uses, ability to postpone demand, amount spent, time, and price range. Elasticity is important for price fixation, production, distribution, international trade, public finance, and nationalization decisions.
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The document discusses different types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. It provides details on the key characteristics of each type:
- Perfect competition has many buyers/sellers, homogeneous products, price taking behavior, free entry/exit
- Monopoly has a single seller, no substitutes, price making behavior and barriers to entry
- Monopolistic competition has many buyers/sellers of differentiated products, some price making ability, and free entry/exit
- Oligopoly has a few dominant sellers, differentiated or homogeneous products, interdependent behavior and some barriers to entry.
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Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
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This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
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This document presents information about monopoly, including definitions, features, types, and price determination under short-run and long-run conditions. It was submitted by a group of students to Dr. Ashish Pareek. Monopoly is defined as a market situation where there is a single seller of a product without close substitutes. Key features include one seller facing many buyers, restrictions on entry of new firms, and the seller being a price maker. The document also discusses monopoly's demand and revenue curves, and how a monopolist may earn super normal profits, normal profits, or face minimum losses in the short-run depending on costs and revenues.
Monopolistic Competition
1) Monopolistic competition describes an imperfect market structure where many small businesses produce differentiated products. Examples include coffee shops, hair salons, and pizza delivery services.
2) In the short run, firms in monopolistically competitive markets can earn supernormal profits by producing at a quantity where marginal cost equals marginal revenue. In the long run, free entry and exit of competitors drives profits down to normal levels.
3) Monopolistically competitive markets are not perfectly efficient. Prices exceed marginal costs, leading to allocative inefficiency. Advertising spending may also represent an inefficient use of resources.
Cardinal and ordinal utility gp
Cardinal utility can be measured numerically in utils, units of utility, whereas ordinal utility cannot be measured numerically but only through rankings. Cardinal utility relies on marginal utility analysis and is based on the work of classical economists like Marshall, while ordinal utility relies on indifference curve analysis and was pioneered by modern economists like Hicks and Allen. While cardinal utility aims for objective measurement, ordinal utility recognizes utility as subjective. Ordinal utility is seen as more realistic since accurately measuring utility numerically is difficult.
Elasticity of demand
This document discusses the concept of elasticity of demand as introduced by Marshall. It defines elasticity of demand as the ratio of percentage change in quantity demanded to the percentage change in price. There are three types of elasticity: price, income, and cross elasticity. Factors that influence elasticity include the nature of the commodity, availability of substitutes, uses, ability to postpone demand, amount spent, time, and price range. Elasticity is important for price fixation, production, distribution, international trade, public finance, and nationalization decisions.
Market structure
The document discusses different types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. It provides details on the key characteristics of each type:
- Perfect competition has many buyers/sellers, homogeneous products, price taking behavior, free entry/exit
- Monopoly has a single seller, no substitutes, price making behavior and barriers to entry
- Monopolistic competition has many buyers/sellers of differentiated products, some price making ability, and free entry/exit
- Oligopoly has a few dominant sellers, differentiated or homogeneous products, interdependent behavior and some barriers to entry.
Monopolistic competition
Monopolistic competition is a market structure with many small businesses that produce differentiated products. Each business has some control over price due to product differentiation but faces competition from substitutable products. Key features include differentiated but substitutable products, many sellers and buyers, free entry and exit, and profit maximization through product differentiation and non-price competition like advertising. In long run equilibrium, firms earn only normal profits as entry by new firms eliminates excess profits. Output is lower and prices higher under monopolistic competition compared to perfect competition.
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The trade theory that first indicated importance of specialization in production and division of labor is based on the idea of theory of absolute advantage which is developed first by Adam Smith in his famous book The Wealth of Nations published in 1776.
Smith argued that it was impossible for all nations to become rich simultaneously by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their absolute advantage. Smith also stated that the wealth of nations depends upon the goods and services available to their citizens, rather than their gold reserves. While there are possible gains from trade with absolute advantage, the gains may not be mutually beneficial. Comparative advantage focuses on the range of possible mutually beneficial exchanges.
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This document provides an overview of consumer behavior. It defines consumer behavior and notes it is influenced by factors like culture, social class, psychology, and more. It discusses the different types of consumers like customers, buyers, and institutional buyers. The document also outlines the consumer decision process from obtaining a product to consuming and disposing of it. It explains how understanding consumer behavior can help with marketing by informing market analysis, target selection, and strategy. The document concludes that understanding consumer needs and wants is important for business success.
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Monopolistic market
Monopolistic competition is an imperfect market structure with many sellers producing differentiated products. Edward Chamberlin is considered the founder of the theory of monopolistic competition. Key characteristics include product differentiation, free entry and exit, and firms having some control over pricing. Examples include fast food, clothing, and hairstylists. In the short run, firms maximize profits by producing where marginal revenue equals marginal cost. In the long run, entry by other firms shifts demand, so firms can no longer price above average costs and earn pure economic profits.
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Marketing and its Functions
This document discusses the key functions of marketing. It outlines the functions of exchange which include buying, assembling, and selling goods. It also discusses the physical supply functions such as transportation, storage, and warehousing. Additionally, it covers the facilitating functions of financing, risk bearing, standardization and grading, market information, and pricing. These functions work together in the marketing process to facilitate the exchange of goods between producers and consumers.
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This document provides an overview of market structures and pricing policies. It defines key terms like market, competition, and market structures. It then describes different market structures in more detail like perfect competition, monopoly, monopolistic competition, oligopoly, and their features. It also discusses equilibrium points for different market structures and how price and output are determined. Pricing methods and objectives are introduced along with strategies for pricing in competitive markets.
Perfect Competition
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
Unit 3 Price and Output Detrmination
Unit - 3 Price & Output Determination discusses the key concepts of market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It examines revenue, profit, and price determination in both the short run and long run for perfect competition and monopoly. Monopolistic competition and oligopolies are also summarized, including how the kinked demand curve model explains price rigidity in oligopolies.
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This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
Miss Nannapat K. ( MUM )
Tim3flies
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1) Marketing orientation focuses on understanding customer needs and wants to deliver satisfaction more effectively than competitors.
2) Adopting a marketing orientation provides benefits like increased customer satisfaction, loyalty, market share and competitive advantage.
3) Developing a true marketing orientation faces difficulties due to differences in emphasis across departments and lack of committed leadership to adapt to a customer-centric approach.
Perfect competition
This document discusses the characteristics of perfect competition in economics. It outlines the necessary conditions for a perfectly competitive market, which are: firms are price takers; there are many buyers and sellers; there are no barriers to entry or exit; products are identical; and there is complete information. It explains that under perfect competition, each individual firm faces a perfectly elastic demand curve, meaning it is a price taker, while the market demand curve is downward sloping. The individual firm can have no impact on the market price.
Perfect Competition
Perfect Competition describes a market structure with many small firms producing identical products, with easy entry and exit from the market. Under Perfect Competition, firms aim to maximize profits by producing where their marginal cost equals marginal revenue. At this point of equilibrium, firms can earn normal profits but cannot earn abnormal profits in the long run due to competition. The key characteristics of Perfect Competition are that it is very efficient, always reaches equilibrium prices and quantities, and provides consumers with the best prices.
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The document discusses various marketing strategies and frameworks. It introduces the Boston Consulting Group (BCG) matrix, which categorizes brands based on their market share and growth. It also discusses corporate identity in terms of whether a company takes an offensive or defensive stance in the marketplace. Finally, it outlines different types of marketing goals a company may want to achieve, such as increasing profits, delighting customers, and redefining their market position.
Internal Marketing
Internal marketing is a process that aligns, motivates, and empowers employees at all levels to consistently deliver a satisfying customer experience. It involves training staff on their marketing roles, effective internal communications, and programs to enhance understanding of the organization's marketing orientation. Successful internal marketing programs require motivation, coordination, information sharing, and educating employees.
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The document discusses monopolistic competition and oligopoly market structures. It defines monopolistic competition as a market with many firms that produce differentiated products and engage in non-collusive competition. Oligopoly is characterized by a small number of interdependent firms where barriers to entry exist. The document provides examples of oligopolistic industries and outlines various firm behaviors in oligopoly markets, including cartel behavior, price leadership, and informal collusion.
Perfect Competition Defined
Perfect competition requires multiple participants, identical products, free information sharing, and easy market entry and exit. It is rare in practice as most markets have some level of government intervention or specialization, violating one of the key characteristics. The characteristics include many producers and consumers, commoditized goods where quality and features are identical, all participants having access to the same information on prices and availability, and easy ability for producers to start or leave production.
Market and Pricing
An individual report submitted to Dr. Ramon Garcia as a fulfillment for the requirements in BA 508 (Marketing Management).
Market and Pricing
The document discusses market structures and pricing. It describes four basic market models: pure competition, monopolistic competition, oligopoly, and pure monopoly. It then provides characteristics of each market structure such as number of firms, product type, and barriers to entry. The document also discusses factors that influence pricing like costs, competition, and customer willingness to pay. Different pricing strategies are outlined including cost-based, penetration, premium, and psychological pricing.
Models_of_Competition.ppt
Economists have identified four types of competition—perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition was discussed in the last section; we’ll cover the remaining three types of competition here.
Monopolistic Competition
In monopolistic competition, we still have many sellers (as we had under perfect competition). Now, however, they don’t sell identical products. Instead, they sell differentiated products—products that differ somewhat, or are perceived to differ, even though they serve a similar purpose. Products can be differentiated in a number of ways, including quality, style, convenience, location, and brand name. Some people prefer Coke over Pepsi, even though the two products are quite similar. But what if there was a substantial price difference between the two? In that case, buyers could be persuaded to switch from one to the other. Thus, if Coke has a big promotional sale at a supermarket chain, some Pepsi drinkers might switch (at least temporarily).
How is product differentiation accomplished? Sometimes, it’s simply geographical; you probably buy gasoline at the station closest to your home regardless of the brand. At other times, perceived differences between products are promoted by advertising designed to convince consumers that one product is different from another—and better than it. Regardless of customer loyalty to a product, however, if its price goes too high, the seller will lose business to a competitor. Under monopolistic competition, therefore, companies have only limited control over price.
Oligopoly
Oligopoly means few sellers. In an oligopolistic market, each seller supplies a large portion of all the products sold in the marketplace. In addition, because the cost of starting a business in an oligopolistic industry is usually high, the number of firms entering it is low.
Companies in oligopolistic industries include such large-scale enterprises as automobile companies and airlines. As large firms supplying a sizable portion of a market, these companies have some control over the prices they charge. But there’s a catch: because products are fairly similar, when one company lowers prices, others are often forced to follow suit to remain competitive. You see this practice all the time in the airline industry: When American Airlines announces a fare decrease, Continental, United Airlines, and others do likewise. When one automaker offers a special deal, its competitors usually come up with similar promotions.
Monopoly
In terms of the number of sellers and degree of competition, monopolies lie at the opposite end of the spectrum from perfect competition. In perfect competition, there are many small companies, none of which can control prices; they simply accept the market price determined by supply and demand. In a monopoly, however, there’s only one seller in the market.
Monopolistic competition - The Four Types of Market Structure - Economics
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.[1][2] In the presence of coercive government, monopolistic competition will fall into government-granted monopoly. Unlike perfect competition, the firm maintains spare capacity. Models of monopolistic competition are often used to model industries. Textbook examples of industries with market structures similar to monopolistic competition include restaurants, cereal, clothing, shoes, and service industries in large cities. The "founding father" of the theory of monopolistic competition is Edward Hastings Chamberlin, who wrote a pioneering book on the subject, Theory of Monopolistic Competition (1933).[3] Joan Robinson published a book The Economics of Imperfect Competition with a comparable theme of distinguishing perfect from imperfect competition.
Monopolistically competitive markets have the following characteristics:
There are many producers and many consumers in the market, and no business has total control over the market price.
Consumers perceive that there are non-price differences among the competitors' products.
There are few barriers to entry and exit.[4]
Producers have a degree of control over price.
economics #ucp
What is 'Monopolistic Competition'
Characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in the industry are low, and the decisions of any one firm do not directly affect those of its competitors. All firms have the same, relatively low degree of market power; they are all price makers. In the long run, demand is highly elastic, meaning that it is sensitive to price changes. In the short run, economic profit is positive, but it approaches zero in the long run. Firms in monopolistic competition tend to advertise heavily.
BREAKING DOWN 'Monopolistic Competition'
Monopolistic competition is a middle ground between monopoly, on the one hand, and perfect competition (a purely theoretical state), on the other, and combines elements of each. It is a form of competition that characterizes a number of industries that are familiar to consumers in their day-to-day lives. Examples include restaurants, hair salons, clothing and consumer electronics. To illustrate the characteristics of monopolistic competition, we'll use the example of household cleaning products.
Introduction to market structures
This document introduces market structure models and their characteristics. It discusses the four main market structures: perfect competition, monopolistic competition, oligopoly and monopoly. It outlines their key characteristics such as the number and size of firms, nature of products, barriers to entry and examples. It then examines how firm behavior is affected differently under each market structure in terms of pricing, costs, branding and profitability. The document emphasizes that more competitive market structures are generally more efficient for allocating resources.
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This document discusses different levels of marketing competition. It outlines three levels: brand competition between similar products, substitute competition between products that fulfill similar needs, and budget competition for consumers' spending money across all products. It also describes perfect competition as a theoretical market structure where many small sellers and buyers transact standardized products and all participants are price takers. Imperfect competition refers to all other market structures that do not meet the strict conditions of perfect competition, such as monopoly, oligopoly, and monopsony. The document lists pros and cons of perfect competition, such as lower prices for consumers but insufficient profits for investment.
Business law
This document discusses different levels of marketing competition. It outlines three levels: brand competition between similar products, substitute competition between products that fulfill similar needs, and budget competition for consumers' spending money across all products. It also describes perfect competition as a theoretical market structure where many small sellers and buyers transact standardized products and all participants are price takers. Imperfect competition refers to all other market structures that do not meet the strict conditions of perfect competition, such as monopoly, oligopoly, and monopsony. The document notes both advantages like efficiency but also disadvantages of perfect competition like insufficient profits.
Businesslaw By ASIF JAMAL
This document discusses different types of competition in markets. It defines competition as firms striving for market share by developing new products and technologies. There are three levels of competition: brand, substitute, and budget. Perfect competition has many small firms that are price takers with perfect information. Structures of perfect competition include infinite buyers/sellers, perfect information, zero transaction costs, and profit maximization. Imperfect competition does not meet all the conditions of perfect competition and can involve monopoly, oligopoly, or monopsony. The document outlines pros and cons of perfect competition, such as encouraging efficiency but lacking product variety.
Monopolistic competition
Monopolistic competition is a market structure in which there are many firms selling differentiated products.
Lt3 -analys externalenv
The document discusses analyzing a company's external environment using Porter's Five Forces model. It describes the microenvironment as internal and close forces like management, suppliers, and customers. The macroenvironment includes larger demographic, economic, natural, technological, cultural, and political/legal forces outside a company's control. Porter's Five Forces model assesses industry competition and profitability based on five forces: rivalry, potential new entrants, substitution threats, supplier power and buyer power.
Markets
The document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It defines each structure based on the number of firms, degree of product differentiation, level of control over prices, and barriers to entry/exit. Perfect competition has many firms and standardized products while monopoly has a single firm with unique products and control over prices. Monopolistic competition and oligopoly involve some product differentiation and a small number of firms competing.
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This document analyzes two companies, Toyota and Perodua, using Porter's Five Forces model and Value Chain model in the automotive industry. It provides an overview of each model and then applies them specifically to Toyota and Perodua. For Toyota, it finds low threat of new entrants due to barriers, weak bargaining power of suppliers, moderately strong bargaining power of buyers, moderate threat of substitutes, and weak rivalry among competitors.
Market Structure
The document discusses different market structures including perfect competition, monopolistic competition, oligopoly, and monopoly. It examines factors that determine market structure such as the number of firms, product differentiation, control over price, and barriers to entry/exit. Market structure influences firms' pricing and output decisions. The document also explores topics like non-price competition, government regulation, and balancing private vs public interests.
Dealing with the Competition
The document discusses competitive strategies and positioning. It outlines Porter's five forces model for determining market attractiveness. It describes different industry structures and how to identify primary competitors using industry and market approaches. Key aspects of competitors like strategies, objectives, strengths and weaknesses should be analyzed. Competitive intelligence systems can be designed to collect and disseminate competitor data. Major competitive strategies include positioning as a market leader, challenger, follower or nicher. Both customer-centered and competitor-centered orientations are discussed.
Perfect Competition
Perfect competition is a theoretical market structure defined by many buyers and sellers, negligible impact of individual firms on market price, homogeneous products, and freedom of entry and exit. Firms are price takers and must accept the market price determined by industry supply and demand. The model assumes large numbers of firms and homogeneous products competing to sell goods with supply and demand determining price equilibrium across the industry.
Competition
Competition refers to the battle between businesses for consumer acceptance and loyalty through their product/service offerings. Having multiple competitors provides value to consumers through better quality and lower cost products compared to a non-competitive market. There are various aspects of competition including awareness of competitors, gaining competitive advantages through innovation, using technology to improve production/information sharing, and differentiating products/services from others. Competition can be classified into four main forms: perfect competition with many identical offerings, monopolistic competition with differentiated but similar products, oligopoly with few dominant firms, and monopoly with a single provider controlling the market.
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Types of Competition
- 3. Questions What is Competition. Why and for what there is Competition. What are the benefits of Competition. What are the types of Competition.
- 4. Competition Robert Thomas said that competition is a contest. Prize Respect Advantages Any type of interest
- 5. Why there is competition Our capitalist system ensures that individuals and businesses make the decisions what to produce how to produce and what price to charge for product
- 6. Benefits of competition Variety Vast Price range Improvement in business Improvement in Market
- 8. Four Types Of Competition
- 11. Properties of Perfect Competition
- 12. Example of Perfect Competition Agriculture products Meat products
- 15. Example Of Monopolistic Competition Cars companies Telecommunication
- 21. Competition
- 23. Examples
- 24. Presented by Group 4 Arif Hassan Fawaz Sidra Azka Hamza Amjad Hafiz Kallem ullah