Meanwhile, elaborating on the Ordinances, Agriculture Minister Narendra Singh Tomar said in case of the Farming Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020, anyone with a PAN card can directly purchase from farmers. He will not require state or central licence. Is selling the product from the farmRead More →
A contestable market is one in which the following conditions are satisfied: a) there are no barriers to entry or exit; … In contrast to perfect competition, a contestable market may have any number of firms (including only one or a few) and these firms need not be price-takers. AreRead More →
Evaluation of Monopolistic Competition – Disadvantages: Large number of firms – could lead to too much choice for consumers and in turn to higher search costs. Advertising – might mislead consumers. Advertising is usually costly, hence, product prices might be higher. How do monopolies affect consumers? A monopoly’s potential toRead More →
Organisms interact with each other and their environment in ecosystems. The role of consumers in an ecosystem is to obtain energy by feeding on other organisms and sometimes transfer energy to other consumers. Changes that affect consumers can impact other organisms within the ecosystem. What are examples of consumers? ConsumersRead More →