A market or industry is considered under perfect competition if it has a sizeable number of producers or sellers offering […]
Economics
Economic Costs of Inefficient Transportation
Transportation is critical for economic growth. But inefficiencies in transportation systems and traditional modes of transport have macroeconomic and microeconomic […]
Characteristics of Monopolistic Competition
Monopolistic competition is one of the four major types of market structures. It sits alongside perfect competition, oligopoly, and monopoly. […]
Characteristics of Sustainable Cities: Models and Frameworks
Sustainable cities are futuristic cities proposed to promote sustainability. Note that urbanization has been linked to numerous negative offshoots including […]
The Different Definitions of Sustainability
“Sustainability” originates from the word “sustain” which means “to support” and is also the word “sustainable” which corresponds to something […]
Monopoly: Characteristics, Advantages, Disadvantages
A monopoly is one of the four major types of market structures alongside perfect competition, monopolistic competition, and oligopoly. It […]
Characteristics of Perfect Competition
One of the four major types of market structures is perfect competition characterized by a sizeable number of firms or […]
Characteristics of a Centrally Planned Economy
A centrally planned economy is an economic system and a specific type of a planned economy in which economic decisions […]
Command Economy: Advantages and Disadvantages
Key characteristics of a command economy such as central government control and public ownership have appealed to thinkers and leaders […]
Characteristics of a Command Economy
A command economy is an economic system in which the government has central authority over investments, production, distribution, and allocation […]