Answer to Question #111677 in Microeconomics for Andrew Ashitey

Question

Identify the conducts elements and describe how they are:
1. Influenced the performance of markets

Answer 1

Nature of product, product pricing, marketing strategies and compitition, these are sets of variables that are relatively stable over time and affect the behaviour of players in the market. The way in which markets fail to follow perfect competition conditions, depends basically in the degree of: supply concentration, demand concentration, product differentiation and market entrance barriers.