What Is An Example Of A Non Competitive Market? A monopoly is a good example of a non-competitive market, because by definition, a monopolist is a firm that has a market all to themselves. What if there was only one supplier of smartphones in the world? That firm would be a monopoly, and it could
How Do Competitors Affect A Business? Competition between businesses is good for customers because it means that businesses have to offer good-quality products and services at the right price . … In addition, if one of the businesses charges a higher price for a very similar product, that business will lose customers. What are 3
Which Of The Following Is A Characteristic Of A Firm That Operates In A Perfectly Competitive Market? A perfectly competitive market is characterized by many buyers and sellers, undifferentiated products, no transaction costs, no barriers to entry and exit, and perfect information about the price of a good. The total revenue for a firm in
What Are Examples Of Competitive Markets? A great example of competitive market is farming. There are thousands of farmers and not one of them can influence the market or the price based on how much they grow. All the farmer can do is grow the crop and accept whatever the current price is for that