Pure Competition (0)

Monopolistic competition

Monopolistic Competition Market Power Firms in monopolistic competition or imperfectly competitive markets are more likely to have limited market power because there are many firms with differentiated products (there are substitutes) and there is relative ease of entry and exit into the market Market Power among Sellers · Monopolistic competition - a market with a large number of sellers and relatively free entry; each firm "differentiates" its product. · Oligopoly - a market characterized by significant barriers to entry and "a few "sellers who recognize their interdependence in the market; products may be homogeneous or differentiated. Monopolistic Competition · Large number of sellers · relative ease of exit / entry · products are differentiated

Monopoly

Monopoly Market Power In pure competition sellers are "price takers." No seller (or buyer) has the ability to influence the market price. In most markets, at least one or more of the conditions required for pure competition are violated. This gives sellers or buyers the ability to influence the market price and allocation of resources Pure competition results in an optimal allocation or resources given the objective of an economic system to allocate resources to their highest valued uses or to allocate relative scarce resource to maximize the satisfaction of (unlimited) wants in a cultural context. Pure competition is the ideal that is be benchmark to evaluate the performance markets. The economic theory of · monopolistic competitive markets, · oligopoly and · monopoly

The cost of production

Economies of scale may be utilized by any size firm expanding its scale of operation. The common ones are - purchasing (bulk buying of materials through long-term contracts), - managerial (increasing the specialization of managers), Why are economies of scale important? - Firstly, because a large business can pass on lower costs to customers through lower prices and increase its share of a market. This poses a threat to smaller businesses that can be "undercut" by the competition - Secondly, a business could choose to maintain its current price for its product and accept higher profit margins. The LRAC LRAC is "U-Shaped" · The LRAC initially decreases due to "economies of scale" Economies of scale are due to division of labour. · Eventually, "diseconomies of scale" begin usually lack of adequate information to manage the production process

Mikro ja makroökonoomika terminid

производства Eesti keeles English На русском Turg. Nõudlus ja pakkumine. Market. Demand and supply. Рынок.Спрос и предложение. Эластичность. Täieliku konkurentsi turg Perfekt competition market Рынок совершенной конкуренции Nõudlus Demand Спрос Pakkumine Supply Предложение Nõudluskõver Demand Curve Кривая спроса Nõudlusseadus Law of Demand Кривая предложения

Majandus

Introduction of SCM

supply chain partners does not make companies more competitive. Transferring cost upstream or downstream leads to "logistics myopia" as all costs ultimately will make way to the final market place to be reflected in the price paid by the end user. Therefore, the leading edge companies seek to make the supply chain as a hole more competitive through the value it adds and the cost it reduces overall. Thus today the real competition is not the companies against the companies but rather supply chain against supply chain. DEFINITIONS Supply Chain Management (SCM) is the process of planning, implementing, and controlling the operations of the supply chain with the purpose to satisfy customer requirements as efficiently as possible. Supply chain management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point-of-origin to point-of-consumption.

Kategoriseerimata

Demand and Supply

provided. · Given the information and incentives, agents within markets can adjust to changes. The process of market adjustment can be visualized as changes in demand and/or supply. · Markets include all potential buyers and sellers geographic boundaries of market markets defined by nature of product and characteristics of buyers conditions of entry into market markets, competition and substitutes Markets include all "potential buyers and sellers" behavior of buyers is represented by "demand" (benefits side of model) behavior of sellers is represented by "supply" (cost side of model) Definition: "A schedule of the quantities of a good that buyers are willing and able to purchase at each possible price during a period of time, other things held constant" · Demand can also be perceived as a schedule of the maximum prices buyers

Cost Accounting notes

Cost Accounting. Chapter 1 Management accounting measures, analyzes, and reports financial and no financial information that helps managers make decisions to fulfill the goals of an organization. Financial accounting focuses on reporting to external parties such as investors, government agencies, banks and suppliers. It measures and records business transactions and provides financial statements that are based on GAAP. Cost accounting measures, analyzes, and reports financial and no financial information relating to cost of acquiring or using resources in an organization. Value-chain analysis: sequence of business functions in which customer usefulness is added to products and services. 1. Research and development 2. Design of products, services, or processes 3. Production 4. Marketing 5. Distribution 6. Customer service. Supply chain describes the flow of goods, services, and information from the initial sources of materials and services to the delivery of products to consumers, regar

Majandus