We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Read the document I send you carefully - Essay Example

Comments (0)
MARKET STRUCTURES Perfect Markets in relation to consumer demand and other markets BY: [Subject] PRESENTED TO: [Institute Name] INTRODUCTION: When it comes to economics and marketing, market structures play quite an important role in defining both…
Download full paper
Read the document I send you carefully
Read TextPreview

Extract of sample
"Read the document I send you carefully"

Download file to see previous pages With every market structure, however, comes advantages and disadvantages of adopting that particular choice. There are mainly four types of market structures with “perfect competition”on one extreme and “monopoly”on the other (Baumol, 1961, p.142. Furthermore, “monopolistic competition”and “oligopoly” are those salient structures that are counted asthe moderate ones. In this paper, we will be focusing primarily on the Perfect markets. It will incorporate an analysis ontheir relation to consumer demand and the comparison to any other market structure in the economy. PERFECT COMPETITION AND MARKET DEMAND Perfect Market: Perfect competition is “a very large number of firms producing a standardized product.” (McConnel&Brue, 2004) This means that a perfect market is that structure which entails numerous extents of “buyers and sellers” for selling the same kinds of product. Besides this, there are several other noticeable characteristics of a perfect market that are being listed below: In competition oriented perfect market, there are groups of buyers and sellers who are involved. ...
Lastly, there is perfect information about prices and technology among both the sellers and buyers. (Besanko&Brauetigam, 2010, p.330) The Perfect Market and the Demand Curve: The demand curve of a perfect market is perfectly elastic which means that it is a horizontal line. “The price elasticity of demand (PED) for a good is a measure of the degree of responsiveness of the quantity demanded to a change in the price, ceteris paribus.” (Quek, 2011, p.2). It happens so because of the fact that the presence of small firms in the market makes it difficult for them to influence the pricing fluctuations of the goods and services that they offer. This leads to an inflexible proposition of prices of products to the consumers and thus, a perfectly elastic demand curve is achieved in this context. The figure below illustrates the demand curve: Figure 1: Chart showing perfectly elastic demand in a perfect market (Source: Google Images) Quek propagates that“demand curve in a perfectly competitive firm is also its marginal revenue curve” (2011, p.2). “Marginal revenue”can be understood as the revenue received by selling one extra unit of production. The demand curve and marginal revenue curve are equivalent in a perfect market competition since the price of goods and services are preciselythe same. The demand curve is identical to the average revenue as well in a perfect market because each product is sold at the same price i.e. the average of the total production. An increase in the price of products in a perfect market leads to the quantity demanded of that product to rise to infinity while a decrease in price leads to the quantity demanded of the product to fall to zero. This is also ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Read the document I send you carefully
Traditional business models have been changing and being replaced by evolving value chains that are posing challenges to existing businesses across all industries. Unless businesses understand how internet changed the way business is done to include the whole range of supply and value chains and adapt to change, it is difficult to sustain and make profits.
8 Pages(2000 words)Essay
Exam paper---read the requirement I send you carefully
For instance, people make choices about what goods to produce, how to produce these products and the target market or consumers of these products. Normally, in straight economics, these questions are answered by the market demand and supply. However, in market conditions in which no particular player has the power to influence prices, every player determines the price of goods and services.
6 Pages(1500 words)Essay
Exam paper---read the requirement I send you carefully
For example, production of wheat and sale of the same in the market is an example of perfect competition. The producer produces wheat for sales but is bound to accept the market price for selling the product. In this paper, the demand-supply equilibrium will be determined.
6 Pages(1500 words)Essay
Exam paper---read the requirement I send you carefully
The perfect market is a market which offers the highest competition and the least concentration. The least competition and highest concentration, on the other hand, is present in a monopoly market. The prices of the products and services in a perfectly market is driven by the benchmark prices set by the market.
6 Pages(1500 words)Essay
IHRM------read the requirement i send you carefully
Both the employees from the host countries and other countries are recruited. It reflects regional strategy and the structure which leads to autonomy and decision making. The staff moves from one place to another and there is transfer between regional areas.
12 Pages(3000 words)Essay
Read the requirement i send you carefully,
About three decades ago, employees were people who were there in the company to work and receive wages at the end of the day or the month. Much focus was on production and achievement of profits without taking into consideration the concerns, ideas, opinions, and general welfare of the employees.
12 Pages(3000 words)Essay
The big idea...read the requirement i send you carefully
Rodrigue, J. (2013) stated “The most important transport problems are often related to urban areas and take place when transport systems, for a variety of reasons, cannot satisfy the numerous requirements of urban mobility. Urban productivity is highly dependent on the efficiency of its transport system to move labor, consumers and freight between multiple origins and destinations.” Congestion or increased density of population paved way for pollutions of various kinds in cities.
12 Pages(3000 words)Essay
Creative communication in international business read the requirement i send you carefully
As the competition in the business arena becomes stiff, the participants who were aspiring to become experienced business leaders with effective communication skills were extensively trained on the way to communicate with their subjects. Some of the areas covered during the workshop include integrating creativity in communication with communication strategy.
4 Pages(1000 words)Essay
Computer---group report,read the requirement i send you carefully
This tool is quite useful given that it helps in the understanding the level of competitiveness and the direction the business is headed. With clear knowledge on current situation, it is possible taking advantage of business’ strength and adopts mechanisms to improve on weakness.
10 Pages(2500 words)Essay
Read the requirement i send you carefully---marketing
China is most engaging place for business communities, local and foreign players are investing more in this. Since, China has good legal policies in industry sector; it aids China to develop more
10 Pages(2500 words)Essay
Let us find you another Essay on topic Read the document I send you carefully for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us