Examples of pure competition include agricultural markets and the Common Stock Market. In pure competition, product prices are set by market demand, not by sellers.Know More
Pure competition is an ideal economic scenario in which there are a large number of independent sellers and consumers, and the given product is in ready supply. Sellers are unable to decrease the price of a product because it is so readily available from competitors, and consumers are unable to decrease it because there is such wide demand.
Most agricultural markets are good examples of pure competition. Milk, for example, is a product which is fairly similar across suppliers, available in almost every part of the world, is widely consumed and sells at consistent prices. If, however, a large segment of producers were hit by drought or cattle disease, unaffected producers would have a larger measure of control over the market because demand would remain high, but supply would decrease.
The Common Stock Market is another example; common stocks represent the lowest tier of ownership, and are widely available. The Foreign Exchange Market, in which participants buy and sell foreign currencies, is also a good example. It is a network connected electronically and includes participants all over the world, keeping competition — as well as demand — high.
There are few perfect examples of pure competition. In many markets there may be brief periods of pure competition. But, most often, a given market will shift as the number of sellers and buyers fluctuates, leading to changes in production, demand and prices.Learn more about Business Resources
Physical resources are the material assets that a business owns, including buildings, materials, manufacturing equipment and office furniture. Physical resources can be sold if a business is facing a cash flow issue.Full Answer >
Rutgers University performance goal examples for a staff associate include setting standards for handling files and course materials, updating databases and responding to emails. Administrative assistant goals may involve developing and monitoring a departmental budget and anticipating the needs of staff. Goals set for a dining manager may include motivating staff to provide friendly service and maintaining high food and dining standards.Full Answer >
Well-known joint ventures include General Motor Co.'s collaboration with automobile companies in Egypt, Uzbekistan, Italy and China; and Hulu, which was formed by three mass media corporations. Joint venture is a business practice through which two or more parties form a strategic alliance to share their intellectual property and knowledge.Full Answer >
Some examples of organizational policies include staff recruitment, conflict resolution processes, employees’ code of conduct, internal and external relationships, confidentiality, community resource index (CRI), compensation, safety and security, and ethics. Other policies may include employee relations and benefits; organizational and employee development; information, communication and technology issues; and corporate social responsibility, according to the New South Wales Department of Education and Training.Full Answer >