Unit 4 Markets and competition

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Monopoly
Monopsony
Monopolistic competition
Perfect Competition

(Microeconomics)
  1. Dr Ola Brown
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Комментарии
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First time hearing Monopsony🤦‍♀️🤦‍♀️ thank you Doc. for the explicit explanation.

adewunmitoyosimiriam
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An example of a perfect competition in Nigeria can be the market of farmers who cultivate maize or other crops. There's easy entry to the market and they can't affect the price but only take what the market offers and their products and inputs are somehow homogeneous.

ModibboTeachesAccounting
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Monoposies can also be where an employer is the only employer in an area.
E.g. For example if there was only one employer in London. These are rare.

MrDanielfff
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10:40

Just to add, only inefficient firms will go bust or make a loss.

MrDanielfff
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Hello Doctor Ola, I rewatched this episode and it helped me grow respect for Monopolies. In fact learning from you on all your socials gave me the courage to switch roles.

I have a question unrelated to this module: I have a degree in English language. But I'm thinking about studying Economics and Finance on either a Masters or Bachelors level. My only fear is I've never been mathematically inclined and I don't want to fail really badly. I do know that I can learn if given enough time, just not at the same pace as everyone else.

esthereze