Give 2 companies that is an example of perfect competition. Explain why they are under this market structure
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- Give atleast three suggestions on how can a business survive in a perfect competition market structure.Standardized products and commodities such as grains or chemicalproducts are characteristics of which competitive market form? a. Monopoly b. Oligopoly c. Pure competition d. Competitive parity e. Monopolistic competitionIn Muscat there are many companies. Each company is slightly different from others. These companies are an example of which market structure? Select one: a. perfect competition b. monopoly c. oligopoly d. monopolistic competition
- Explain the conditions for a market to be perfectly competitive? Include any sources used.1. This market structure has a lot of competitors selling non-identical goods. A. Perfect competition C. Oligopoly B. Monopolistic competition D. Monopoly 2. What does a discount rate in the net present value signify? A. Amount of interest earned C. Firm's time and risk preference B. Amount needed by the firm D. Rate of firm's growth 3. Why does the value of money diminish over time? A. Inflation C. Decrease in consumer information B. Increase in competition D. Interest rates 4. Which disequilibrium profit theory is applicable to businesses with high capital requirements? A. Frictional profit theory C. Compensatory profit theory B. Innovation profit theory D. Monopoly profit theory 5. Which of these is NOT part of the three (3) basic economic questions? A. What commodities should be produced? B. How should those commodities be produced? C. Why should the commodities be produced? D. For whom are those commodities produced? 6. Which of these is a market-supplied resource? A. Owner's…5 Forces of Industry Competition: (for each force, state whether it is strong, moderate, weak, and then list the supporting facts about the industry that led to your conclusion – bullet points are fine)
- Sustaining competitive advantage can be challenging. The entry of new competitors, the possibility of imitation, and the changes in the firm’s context can affect the firm’s profitability and, historically, have affected firms that had competitive advantage in very distinctive ways. For instance, Coke and Pepsi have sustained their market dominance for nearly a century. On the other hand, General Motors and Ford were hit hard by competition, in particular of foreign companies entering the market, and never fully recovered. What is different about the product/market situation in these cases that affects the sustainability of their competitive advantage? Which elements of the strategic landscape were responsible for Coke and Pepsi’s success and which elements were instrumental in GM and Ford losing an important share of the market?Identify the correct option in each of the following statements below. Write down only the correct answer. 1) The (micro-environment / market environment) refers to the forces outside the business, such as consumers, competitors and suppliers. This environment can be influenced or partially controlled by management. 2) A (marketing mix/ marketing objective) can be defined as something the organisation wants to achieve over a set period of time.3) (Reseller / Consumer) markets refer to individuals and households who buy goods and services for personal consumption. 4) The interest rate in a country, which is an example of the (political / economic) environment, has a direct influence on consumer prices and spending. 5) (Strategic Marketing / Environmental scanning) is the careful gathering, processing, analysing and interpreting of an organisation’s internal and external environments to reveal tactical or strategic opportunities, threats, strengths and weaknesses and to determine how…Give examples of each of the different levels of diversification -Low levels of diversification(One example) -Moderate to high levels of diversification (Two examples) -Very high levels of diversification(One example)
- Comparing Palmolive and Dove, as soap manufacturing companies, what are the external influencing factors? Why does the market move this way, in this context with the external factors?Why do many firms try to steal market share from market leaders by offering low prices? Try to explain the rationale for this behavior. In your opinion, does it really work?During the first five months of 2021 there were three FDA approved COVID-19 vaccine providers, Pfizer, Moderna, and Johnson and Johnson and they work in similar ways. Based on the market structure of the vaccine providers in the United States to date the nature of the market appears to be: a. Purely competitive B. And oligopoly c. Monopolistic competition D. Not enough information to tell