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Market Structure
Market structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it easier to understand the characteristics of diverse markets. The main body of the market is composed of suppliers and demanders. Both parties are equal and indispensable. The market structure determines the price formation method of the market. Suppliers and Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a equilibrium quantity. Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. The relationship between buyers and sellers as the main body of the market includes three situations: the relationship between sellers (enterprises and enterprises), the relationship between buyers (enterprises or consumers) and the relationship b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith The Muir Portrait
Adam is the name given in Genesis 1–5 to the first human. Adam is the first human-being aware of God, and features as such in various belief systems (including Judaism, Christianity, Gnosticism and Islam). According to Christianity, Adam sinned in the Garden of Eden by eating from the tree of the knowledge of good and evil. This action introduced death and sin into the world. This sinful nature infected all his descendants, and led humanity to be expelled from the Garden. Only through the crucifixion of Jesus, humanity can be redeemed. In Islam, Adam is considered '' Khalifa'' (خليفة) (successor) on earth. This is understood to mean either that he is God's deputy, the initiation of a new cycle of sentient life on earth, or both. Similar to the Biblical account, the Quran has Adam placed in a garden where he sins by taking from the Tree of Immortality, so loses his abode in the garden. When Adam repents from his sin, he is forgiven by God. This is seen as a guidance fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
