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What does economically free mean?
I think it means that the economy is a free-market economy. But I'm not sure.
What do you mean by barriers to enter and barriers to exit from an industry?
security barriers
Compare and contrast perfect competition and monopolistic competition?
This is a rather common question within the Market Structure topic in Economics. In Market Structure, the Perfect Competition (PC) and the monopoly are considered extreme market structures, while other market structures also exist, like the oligolpoly and the monopolistic competition(MC). Before understanding the differences of these 2 market structure. It's important to realize that the PC market structure consists of many firms or sellers in an area or industry. The monopoly on the other hand, consists of a single seller. A good example, would be someone selling things on an island. The differences between the PC and the monopoly market structure are (1) Ease of entry and exit for firms (2) Type of product sold (3) Type of firm (4) Profit in short run and long run. First of all, is (1) ease of entry and exit for firms. For the PC market structure, new firms can easily enter the market structure, as there are no barriers of entry. This means that new firms who knows that there is a profit to be made in some area, location or industry can easily set up a new shop there. For the monopoly, there is substantial or high barriers of entry preventing new firms from entering the market structure. These barriers of entry are created by existing or dominant firms in a monopoly to prevent new firms or competitiors to enter the market structure. The second difference is (2) the type of product sold. For a PC market structure, the product sold is similar. This means that what one seller is selling, is what another seller is selling. Hence products in the PC market structure are perfect substitutes. We also assume that in PC market structure, the consumers have perfect knowledge of the product. This means that the consumers are aware of the price sold in another shop. For the monopoly, the product sold are not perfect substitutes, and can be rather unique. The third difference is the (3) type of firm. Since the PC market structure faces the above 2 characteristics, this means that the firm in this market structure are powerless to influence the price. This means they have no control to increase the price of the product. This is because if they increase the price of the product, and there are perfect competition, firms who increase the price, will lose out to other firms. Hence firms in PC market structure are considered to be Price Takers. Firms in monopoly market structure on the other hand, are Price Makers. This means that they can influence the price of their product sold to consumers. The monopoly is able to do that, as the monopolist is the single seller in a market. The last difference is the (4) existence of profit. For the PC firm, there is a possibility to earn abnormal profit in the short run, but not possible in the long run. This is because, in a PC market structure, when existing firms earn profit, new firms will enter the market structure, shrinking the profit. For the monopoly, there is a possibility to earn abnormal profit in short run and long run, as there is the existence of barriers of entry to prevent new firms to enter the market. Hope this helps. ( although I may have listed the differences here, they are not the only ones, there are others as well, but the rest can be complicated and might need the use of graphs ). (cheong@bgymail.gd.cn)
What do you mean by capital market?
capital market is a market where long term loans are availble that place called capital market
What do you mean by capitalist economy?
In a capitalist society the market is privatized and individuals and businesses are encouraged to make and spend money and compete against each other. Capitalism can take on many forms, but in its purest form the free market would have no regulation. However, most capitalist societies have some form of government regulation on the market.
What does confindence mean?
a limitation area one entry & exit is called confined space.
What do you mean by entry strategy?
An entry strategy is the plans businesses develop when they are entering a competitive market. They may be planning to penetrate the market by being the low price leader.
What does economically free mean?
I think it means that the economy is a free-market economy. But I'm not sure.
What does wer wird freimarkt mean in English?
It means 'who is free-market'.
What does 'free' mean as in The free market cost us 700 billion dollars?
In this case free = not regulated nearly hard enough.
What does SESO mean?
Que seso means : What is this. Can also be used as What's going on in here
What does order of entry mean in court?
what does order of entry mean for states
What does an exit sign with no arrows mean?
An exit sign with no arrows is immediately next to or above the actual exit or exit door. An exit sign with an arrow can be away from the exit and points in the direction of the exit.
What does la salida mean in English?
Salida might mean exit. It might mean a way out. It might mean offramp. It might mean a date.
Write a c program to exit?
Not sure what you mean by this question - using the exit call will exit a C program:exit (0) ;
Studies on exit interview?
If you mean - how to exit an interview room - you should be self-confident.
What does the brain teaser exit lunch lunch mean?
Exit to lunch
