ECO 212 Week 4 Assignment

ECO 212 Week 4 - Week 4 Assignment Doug Holt Economics has two major components supply and demand To meet the needs of customers and produce as

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Week 4 Assignment Doug Holt Economics has two major components, supply and demand. To meet the needs of customers and produce as many profits as possible all structures play a role. The structure is how the companies are identified and the firm’s behavior is based solely on its structure. Pricing and competition are also influenced by the structure. Competitive markets, monopolies, and oligopolies are all vital in economics. These companies are what drives the economy and delivers the goods and services to the consumers. Competitive markets play the role of an equalizer in economics, since in a competitive market the customers are the beneficiaries. Due to competition amongst companies, price and output is determined by what the opposition is doing. This competition benefits the consumers by keeping prices down and supply up. The main barriers to entry in the competitive market is the capital needed to start and the competition keeping prices down decrease opportunities for profit. These are the only restrictions to entering this structure. Anyone who has the capital in place to open a
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ECO 212 Week 4 - Week 4 Assignment Doug Holt Economics has two major components supply and demand To meet the needs of customers and produce as

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