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
An example of a business purchasing procedure is one that starts with identification of a needed product and ends with the execution of a purchase order. An eight-step purchasing process frequently used by businesses consists of identifying the need, selecting a specific product, appointing a purchasing team, determining technical specifications, establishing a budget, researching potential suppliers, soliciting bids and awarding the business.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 >
Examples of turnkey projects include houses, factories, storefronts, churches, aviation hangars and chemical production and other facilities. Turnkey projects denote contracted construction endeavors that, when completed, are ready for occupation, use or sale. New housing construction is a prevalent example of a turnkey project because builders normally finish the project before it is sold.Full Answer >
Key result areas are the things you must do in order to fulfill your primary responsibilities in a particular position. Examples of key result areas for salespeople include prospecting for potential clients followed by building trust with their prospects, which finally results in sales and referrals.Full Answer >