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Can UNDERSTAND your QUESTION

Monopoly is a condition in which ONE BUSINESS controls the production and price of a specific item. This is generally CONSIDERED against the law in most countries because it eliminates COMPETITORS that can produce substitutes at a lower price. There MAY be some cases in which a monopoly is unavoidable.

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Explanation:

There are four MAIN investment types, or asset classes, that you can choose from, each with distinct characteristics, risks and benefits.

Growth investments. ...

Shares. ...

PROPERTY. ...

Defensive investments. ...

Cash. .....

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EQUILIBRIUM PRICE -

The Price at which the demand and supply equate to each other is called "Equilibrium" price.

If price falls then the demand rises. If price rises then the demand falls. On the other HAND, if the price rises then the supply also rises by suppliers. If the price falls then the supply falls by suppliers or producers. When supply and demand of the market are equal then it is SAID to be "Equilibrium" . when the demand of the goods is equal to the supply of goods it is KNOWN as Equilibrium.

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Selling cost means sales cost incurred by the sales DEPARTMENT in the MARKET and distribution of products.

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Monopolistic competition is a TYPE of imperfect competition such that many PRODUCERS SELL products that are differentiatedfrom one another (e.g. by branding or quality) and hence are not PERFECT SUBSTITUTES.

The ACTION of selling the products at different
price at different BUYERS in order to MAXIMIZE sales and profit.

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Heya...

SEE here for your answer....

============

This is true statement..

Reason ,,

In perfect COMPETITION prices are DETERMINED by equilibrium of demand and supply and firm are PRICE taker only ...

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This is a false STATEMENT...

Reason,,

Monopolistic is that firm in which PRODUCER is PRICE MAKER , so he can also discriminate the prices...

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MONOPOLISTIC COMPETITION

Answer : EQUILIBRIUM.


Few LINES -

The Price at which the demand and supply equate to each other is called "Equilibrium" price.


If price FALLS then the demand rises. If price rises then the demand falls. On the other hand, if the price rises then the supply also rises by suppliers. If the price falls then the supply falls by suppliers or producers. When supply and demand of the MARKET are equal then it is said to be "Equilibrium" . when the demand of the GOODS is equal to the supply of goods it is known as Equilibrium. 

SUPPLY :

Supply is the quantity of certain GOODS or services which are provided by the desired suppliers to the market. 

THE LAW OF SUPPLY -

This is a DIRECT relationship between the prices of goods and it's supply . If the price of the goods rise then their supply will ALSO rise . In other words , The higher the price , The higher the quantity supplied.

EXCEPTIONS -

Following are the exceptions to this law of supply -

Perishable Goods

Agricultural Goods

Rare ARTICLES

Auction Sale

Price EXPECTATION of sellers

SUPPLY :

Supply is the quantity of certain goods or services which are provided by the desired suppliers to the market. 

THE LAW OF SUPPLY -

This is a DIRECT RELATIONSHIP between the prices of goods and it's supply . If the price of the goods rise then their supply will also rise . In other words , The higher the price , The higher the quantity SUPPLIED.

ASSUMPTIONS -

There is No change in the GOALS of the firm .

There is. No change in the price of factors of production.

There is No change in state of technology .

There is No change in Taxation POLICY.

There's No change in price of other goods .

The term "other things remaining the same " refer to the following assumptions in the law of supply : No change in the STATE of technology . No change in the price of factors of production . No change in the number of FIRMS in the MARKET .

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Elasticity of SUPPLY measures the degree of responsiveness of quantity supplied to a change in own price of the commodity. It is also defined as the PERCENTAGE change in quantity supplied divided by percentage change in price.
It can be calculated by using the following formula:
ES = % change in quantity supplied/% change in price
Symbolically,
ES = ∆Q/Q ÷ ∆P/P = ∆Q/∆P × P/Q
Examples of INELASTIC goods would be water, gasoline, HOUSING, and food. Elasticgoods are usually VIEWED as luxury items.

Marginal COST is the change in the OPPORTUNITY cost that ARISES when the quantity produced is incremented by one UNIT, that is, it is the cost of producing one more unit of good.

An increase in supply MEANS selling a LARGER amount at the same price.

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In economics, income elasticity of DEMAND measures the responsiveness of the quantity demanded for a GOOD or service to a change in income. It is CALCULATED as the ratio of the percentage change in quantity demanded to the percentage change in income.

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Unitary ELASTIC demand is DEFINE as

A situation that occurs when the price elasticity of demand is EQUAL to negative one (-1). For a BUSINESS, when a product exhibits unitary demand this means that a given percent shift in the price of the product results in an equal but opposite percent change in the amount of product demanded. Hence, a one percent change in price yields a one percent decline in the amount of product demanded.

TRUE

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The slope of DEMAND curve is flatter in CASE of INELASTIC demand.
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Income ELASTICITY of DEMAND for INFERIOR GOOD is NEGATIVE

The DEMAND for salt Is an inelastic.
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The five DETERMINANTS of demand are: The PRICE of the GOOD or service. Income of buyers. Prices of RELATED goods or services.

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The LAW of demand states that, "conditional on all else being equal, as the price of a good increases, quantity DEMANDED DECREASES; conversely, as the price of a good decreases, quantity demanded ".

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DEMAND - 

Demand is the quantity of CERTAIN goods which are desired by the consumers from the MARKET. 


THE LAW OF DEMAND -

This is a inverse relationship between the prices of goods and it's demand . If the price of the goods rise then their demand will FALL . In other words , The higher the price , The lower the quantity demanded . Demand curve is downward from left to right .

Demand is generally classified on the basis of various factors, such as nature of a product, usage of a product, number of consumers of a product, and suppliers of a product.

The demand for a particular product WOULD be different in different situations.

Therefore, organizations should be clear about the type of demand for their products.

ADVERTISEMENTS:

Figure-1 shows the different CLASSIFICATIONS of demand:



The different types of demand (as shown in Figure-1) are DISCUSSED as follows:

i. Individual and MARKET Demand:

Refers to the classification of demand of a product based on the number of consumers in the market. Individual demand can be defined as a quantity demanded by an individual for a product at a particular price and within the specific period of time. For example, Mr. X demands 200 units of a product at Rs. 50 per unit in a week.

ADVERTISEMENTS:

The individual demand of a product is influenced by the price of a product, income of customers, and their tastes and preferences. On the other hand, the total quantity demanded for a product by all individuals at a GIVEN price and time is regarded as market demand.

In simple terms, market demand is the aggregate of individual demands of all the consumers of a product over a period of time at a specific price, while other factors are constant. For example, there are four consumers of oil (having a certain price). These four consumers consume 30 liters, 40 liters, 50 liters, and 60 liters of oil respectively in a month. Thus, the market demand for oil is 180 liters in a month.

ii. Organization and Industry Demand:

Refers to the classification of demand on the basis of market. The demand for the products of an organization at given price over a point of time is known as organization demand. For example, the demand for Toyota cars is organization demand. The sum total of demand for products of all organizations in a particular industry is known as industry demand.

Difference between extension of demandand increase in DEMAND. Extension OFDEMAND refers to increase in QUANTITY demanded due to DECREASE in own price of the commodity while increase in demandrefers to increase in quantity demanded EVEN when own price of the commodity is constant

FALSE

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⛦Hᴇʀᴇ Is Yoᴜʀ Aɴsᴡᴇʀ⚑
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▶Yes, Desire means demand.

Desire➙ A strong FEELING of wanting to have something or wishing for something to happen.

▶Examples are:-
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[1] Desire is a common theme is MUSIC and literature.

[2] He desired her approval more than anything.

[3] She has a great desire to have a baby.

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Answer : DECREASE.


Few lines -

When the PRICE of petrol increase, demand of cars will "decrease".

Cars are run by petrol. If the price of the petrol rises then the demand of cars will FALLS.

DEMAND - 

Demand is the quantity of certain goods which are DESIRED by the consumers from the market. 



THE LAW OF DEMAND -

This is a inverse RELATIONSHIP between the prices of goods and it's demand . If the price of the goods rise then their demand will fall . In other words , The higher the price , The lower the quantity demanded . Demand curve is DOWNWARD from left to right .

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Utility and SATISFACTION. There are different levels of utility. It is the inner CHARACTERISTICS of a PRODUCT by which it can satisfy human wants, WHEREAS satisfaction is achieved after the product is used.Aug 6, 2014

WITHIN economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time. The term was introduced initially as a measure of pleasure or satisfaction within the theory of utilitarianism by MORAL philosophers such as Jeremy Bentham and John Stuart Mill. But the term has been adapted and reapplied within neoclassical economics, which dominates modern economic theory, as a utility function that represents a consumer's preference ordering over a choice set. As such, it is DEVOID of its original interpretation as a measurement of the pleasure or satisfaction OBTAINED by the consumer from that choice.

The paradox of value (ALSO known as the diamond–water paradox) is the apparent CONTRADICTION that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a HIGHER price in the market. The philosopher Adam Smith is often considered to be the classic presenter of this paradox, although it had already appeared as early as Plato's Euthydemus.[1]Nicolaus Copernicus,[2] John LOCKE, John Law[3] and others had previously tried to explain the disparity.