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Stats: 33,136 Members, 82,581 Topics, 16,501 Comments. Date: Oct 24 2020, 1:40 pm

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@Seuncoded could you please just reply my messages? I've been sending series of messages and they've all been ignored

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Hello. I've been away for a long while due to some issues I couldn't avoid. I got back online some weeks ago and I've been sending private messages to get clarification on some matters but none of my messages have been replied. This is really painful @seuncoded

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Thank you veeeerrryyyry much NSF. God bless you

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I know absolutely nothing about football.... I'm off

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That's a good one there but the B. Tech doesn't sound too good to me

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Maybe you're right but there's more to being a good investor than reading books

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A lot of us want such marriage. May God lead is aright

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Someone once suggested that the school should be closed down. I think they should look into that suggestion

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Ain't a game. Will pass. Thanks

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Re: . by expmercy: 3:05pm on November 15

Okay... It's official, the world is really coming to an end

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Fraud fraud fraud... This is Nigeria

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This issue has really not died down??

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Wooow... IMO state govt, where art thou??

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This people should not take any nonsense bribe oo

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Noted Sir.... I'll take note of it

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This really is unfair on the children....Quack teachers

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Chai...that was savageryyyyyy

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I agree with you oo.... Jonath

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May the labour market favour you ma'am. Congratulations!!!

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Definition: Imperfect competition is a competitive market situation where there are many sellers, but they are selling heterogeneous (dissimilar) goods as opposed to the perfect competitive market scenario. As the name suggests, competitive markets that are imperfect in nature.
Description: Imperfect competition is the real world competition. Today some of the industries and sellers follow it to earn surplus profits. In this market scenario, the seller enjoys the luxury of influencing the price in order to earn more profits.
If a seller is selling a non identical good in the market, then he can raise the prices and earn profits. High profits attract other sellers to enter the market and sellers, who are incurring losses, can very easily exit the market.
There are four types of imperfect markets:
- Monopoly (only one seller) - Oligopoly (few sellers of goods) - Monopolistic competition (many sellers with highly differentiated product) - Monopsony (only one buyer of a product)

Imperfect market is a very broad topic. If you find it difficult to understand anything, kindly let me know. Thanks.

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I wonder what comes to the minds of people when they hear "perfect market". Maybe a market that doesn't have any issues and things are going on smoothly. The thing is, some terms in reality mean extremely different things in economics.

Perfect market or perfect competition as it may be called is a market in which individual firms have zero market power. Meaning they cannot influence the price in the market.

What is 'Perfect Competition'
Pure or perfect competition is a theoretical market structure in which the following criteria are met: all firms sell an identical product (the product is a "commodity" or "homogeneous"); all firms are price takers (they cannot influence the market price of their product); market share has no influence on price; buyers have complete or "perfect" information – in the past, present and future – about the product being sold and the prices charged by each firm; resources such as labor are perfectly mobile; and firms can enter or exit the market.

A typical example used by many economics teachers is the Agege bread. The price of Agege bread is influenced by the forces of demand and supply. You, as a buyer cannot say you want to buy the #100 bread for #80 from the seller because it's a fixed price and other sellers sell it for the same price.

Note: in the real world, there's no perfect market. (This is a gist for another time).

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This is really touching and reminds one of his mortality.

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Wonders indeed shall never end in this world

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That lady is just one wicked witch. See the way she harm an innocent guy

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What an achievement he has there!!

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Haba!!!! See how his back was damaged.

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Yaaaay!! To all the graduands, I'm coming for Item 7 oo

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What exactly has he got to gain from this dirty act bayi??

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Temitayo findschoolnews

I'll update soon sir

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Good one up there. Happy Sunday everyone

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For a mind that knows is a mind that's free. First and best of all

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Happy happy Sunday everyone. Have a great week ahead

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Nice institution. I'm proud of you Nekede

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2019 election coming up. Who will take the trophy??

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Not everyone knows that it's not easy to be a teacher sha

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