Why is the housing market not a perfectly competitive market

Answers

Answer 1
Firstly, in a perfectly competitive market, all the products are homogeneous, meaning they are all identical. this is clearly untrue in the housing market as houses are not all the same, they vary in size, location, quality and many other areas.
Answer 2

Answer:

houses are essential. a need doesn't fall in perfect competition conditions.


Related Questions

In which state of matter are the particles furthest apart?

Answers

either plasma or gas. plasma is less dense but the answer could be gas.

Why might it be disadvantageous to receive a large refund instead of a smaller one?.

Answers

It will be a disadvantage to receive a large refund instead of a smaller one because its look like the taxpayer loaned the U.S. government their money without making interest.

What is a large tax refund?

A large tax refund is received because a taxpayer had more tax withheld from his/her paychecks all year than was necessary to cover what you owe.

What is a small tax refund?

A small tax refund usually occur because the taxpayer have overpaid only by a little amount.

In conclusion, it will be a disadvantage to receive a large refund instead of a smaller one because its look like the taxpayer loaned the U.S. government their money without making interest.

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When the units produced are equal to the units sold, the net operating income computed using the variable costing method is ______ the net operating income using the absorption costing method.

Answers

Answer:

equal to

Explanation:

When the units produced are equal to the units sold, net operating income computed using the absorption costing approach is equal to the net operating income computed using the variable costing approach.

It has been Shelly's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets rave reviews for her hand-decorated cupcakes. So, rather than open a bakery that offers a wide variety of baked goods, Shelly has decided to open a specialty cupcake shop to cater to that market only. This is an example

Answers

When Shelly decides to open a specialty cupcake shop to serve just that market, this sets up an example of market segmentation.

What is market segmentation?

A process of dividing potential customers in a market into groups based on common characteristics, such as preferences, habits, and needs.

Therefore, through market segmentation, an organization is able to align its strategy by offering products and services more focused on consumer desires, increasing its value and positioning in the market.

Find out more about market segmentation here:

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Though some intangible attributes like delivery or a warranty may also be important for a product like a washing machine, because it has tangible attributes that a customer's senses can perceive, the washing machine is defined as ______.

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It is true that some intangible attributes like delivery or a warranty may also be important for a product like a washing machine because it has tangible attributes that a customer's senses can perceive, the washing machine is defined as good having tangible attributes.

What is a tangible good in economics?

In economics, goods are tangible items that can be used to satisfy human wants.

Goods essentially have value because they provide utility. The more utility a good provides, the more it's value.

Learn more about goods at:
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100 points. The owner of this credit account needs to make a $5,000 medical payment and doesn't have enough in his or her other accounts. Describe at least one option available to the owner.
Line of credit : $3,000.
Available credit: $2246,63

Answers

Answer:

transfre the money

Explanation:

What must strategic leaders keep in mind if they are going to achieve successful strategic positioning

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Answer:

They must keep in mind what option or thing seems better, they must keep in mind if they have a good strategy

Explanation:

Self- owned business includes all types of business

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no. it includes people who work for themselves and stated only by themselves i believe.

The two general costing approaches used by manufacturing companies to prepare income statements are:

Answers

Answer: ABSORPTION and VARIABLE

Explanation:

When Denisha sells the jewelry she makes at craft fairs or on her personal website, she is utilizing a(n) ________ marketing channel.

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It should be noted that Denisha was utilizing Direct marketing channel when sells the jewelry she makes at craft fairs or on her personal website.

What is Direct marketing channel?

Direct marketing channel serves as utilization of  a number of channels to reach prospects and customers about one's goods and service so as to market them.

Direct marketing channel includes;

face-to-face selling direct-mail catalogue marketing

Therefore, Direct marketing channel could be face to face marketing.

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Henry recently set up a retail store in his hometown. He studied the pattern that other storeowners followed in obtaining new customers. All their current customers had referred the store to their friends and family. Their awareness basically spread through word-of-mouth. Henry knew that his store offered the same quality as the other stores did. His store was also on the same street as the other retail stores. Given the setting, the other storeowners were already charging their customers the bare minimum in order to remain competitive. Which P of marketing should Henry concentrate on to distinguish his retail store?

Answers

Answer :

Promotion is the P of marketing Henry may focus on to differentiate his retail shop.

Explanation :

In marketing, there are seven (7) P's that make up the marketing mix. The four (4) most important P's in the marketing mix are P-product, P-price, and P-place. P-promotion According to the text, Henry cannot utilize the first P, which stands for product, because he is aware that his store offers the same quality as the others.

Henry can't utilize the second P, Price, as a marketing technique since he knows that other business owners are already charging the bare minimum to stay competitive. Henry can't utilize the third P, which stands for Place, because his business is on the same street as the other retail stores, and he can't improve on that. Henry's lone marketing tool for beating the competition is the fourth P, which stands for Promotion.

This is because word-of-mouth knowledge established by other business owners is insufficient to create widespread awareness; word-of-mouth can only reach friends and relatives. As a result, the P in marketing that Henry may use is Promotion. He may achieve this by creating global awareness through advertisements on television, radio, social media, printing handbills, and sales promotions such as lottery draws, festive sales, clearance discounts, and offering consumers bonuses such as the buy three, get one free promotion.

Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Evan is enforceable by

Answers

Under the Statue of Frauds, the agreement between Duane and Evans is not enforceable.

Why is the agreement not enforceable?

The Statue of Frauds is a law that posits that agreements that are valued at over $500 should be written down in order for them to be enforceable.

The land sale here was for forty acres of land which is definitely valued at more than $500. Seeing as the agreement was oral, it is in violation of the Statue of Frauds which means that it cannot be enforced.

Find out more on the Statue of Frauds at https://brainly.com/question/17127149.

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