Markets. Competition. Monopoly

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Contents

Buyers and sellers in a market economy.
Competition in a perfect market.
Different kinds

Contents Buyers and sellers in a market economy. Competition in a perfect
of monopolies.

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Markets.

In a market economy, the actions of buyers and sellers set the

Markets. In a market economy, the actions of buyers and sellers set
prices of good and services.

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Competition.

In a perfect market competition is unrestricted and sellers are numerous, free

Competition. In a perfect market competition is unrestricted and sellers are numerous,
competition and large numbers of sellers are not always available in the real world

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Monopolies.

Monopolies.

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Natural monopoly

Natural monopoly

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Competition among producers

Competition among producers

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Competition among consumers

Competition among consumers

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Workers compete with one another to get the best jobs at the

Workers compete with one another to get the best jobs at the highest wages.
highest wages.
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