|
|
PERFECT COMPETITION CHARACTERISTICS: The four key characteristics of perfect competition are: (1) large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics mean that a given perfectly competitive firm is unable to exert any control whatsoever over the market.
Visit the GLOSS*arama
|
|
|
|
|
PRICE MAKER A buyer or seller that possess sufficient market control to affect the price of the good. From the selling side of the market, a monopoly is the best example of a price maker. From the buying side of the market, a monopsony is also a price maker. This is one of two alternatives related to control over price. The other is price taker. Price maker is also termed price setter.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for jovial bank tellers.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the early 1900s around 300 automobile companies operated in the United States.
|
|
|
"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects. " -- Alexis de Tocqueville, statesman, author
|
|
PUT
Put Option
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
