Perfect competition and monopoly power Essay Example | Topics and Well Written Essays - 750 words

Perfect competition and monopoly power - Essay Example There is natural tendency of the high technology company to acquire this form to shun competition. 3. In perfect competition products available in the market are of homogeneous character manufactured by firms and that do not provide customers the buying preference. Buyers are free to buy from the market and firms are also free to enter or exit without restrictions In contrast to this in monopoly there is only one seller and plenty of buyers. The entry barriers exist that don't allow easy entry in the market for many reasons such as high technology products or legally protected products etc. Monopolists set market price of the product and services irrespective of the buyers' reaction. The buyers don't have power to influence price. Oligopoly is a situation that lies in between the two extreme models of perfect competition and monopoly. This is a market form in which the industry is dominated by a small numbers of sellers or firms and the decision of one firm influences that of others. This close proximity and influence of each firm on the other in the market or industry often causes collusion of interest. There is scope of competition in oligopoly too but firms often employ restrictive trade practices as formation of cartels to raise product prices. OPEC is the best example which form cartel to restrict production of crude oil to reduce supply and increase price in the world market. When the number of firms is larger there can be fierce competition with relatively high production but low prices that amounts to situation in perfect competition. But actually the firms operate under imperfect competition. In order to earn greater profit / revenue and market share firms in oligopoly utilize non-price competition a nd are supported by sticky -upward demand curve. Oligopsony is another form of market in which number of sellers is comparatively large than the number of buyers. This type of market is often seen in the input market where a small number of firms compete to obtain (buy) factors of production. This is just in contrast with the oligopoly market where firms compete to sell the final product. Market with a few sellers (oligopoly) and a few buyers (oligopsony) is called as a bilateral oligopoly. Perfect Competition is the most competitive market structure in which everybody is a price taker. This type of situation hardly exists. It is so competitive that any individual buyer or seller has a very little impact on the market price. When a company emerges with a high technology products that no one else manufactures they acquire a growing monopolistic position in the market as the Microsoft Corporation did with its application software products that have to be used in every product as desktop computer. Initially there was no substitute product in the market as in a monopoly market but gradually some firms dare enter in to the scene to snatch some market share of the near

Is health and physical education beneficial enough to students to keep Essay

Is health and physical education beneficial enough to students to keep in our school systems - Essay Example 7) However, school curriculum should not be confined to teaching academic subjects that hone the students’ intellectual skills. The personality and behavior of an individual is developed through absorbing diverse issues that shape their needs, preferences and actions. Individuals do not exist in a nutshell; they interact, relate, and behave in specific manners which eventually affect their health. According to Kolbe (1993 p. 12), â€Å"the Centers for Disease Control and Prevention (CDC) finds that most major health problems in the United States today are caused by six categories of behavior: behaviors that lead to intentional and unintentional injuries; smoking; alcohol and other drug use; sexual behaviors leading to sexually transmitted diseases, HIV infection, and unintended pregnancy; poor nutrition; and lack of physical activity†. He further emphasized that â€Å"behaviors and attitudes about health that are initiated during childhood are responsible for most of the leading causes of death, illness, and disability in the United States today. Comprehensive school health education programs represent one effective way of providing students with the knowledge and skills to prevent health-impairing behaviors.† (Kolbe 1993 p. 13) The schools’ curriculum should include subjects which promote health and physical education to enforce correct behavioral patter ns at a young age and continue this positive reinforcement until adulthood. Therefore, health promotion and physical education in the schools is of critical importance. There has been the underlying belief that â€Å"if young people (5-18 years) receive basic knowledge about a health issue, they will adopt appropriate health enhancing behaviours. Most school health programs, projects and packages were designed based on this belief. However, research in the last 20 years suggests that the provision of information will lead to behavior change approach is