business environment

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Competitive strategies are used mainly when in a market there are too many numbers of competitors among the same product. They are all competing fairly as in there are strict rules and regulations imposed since 1973 as you can see the old four acts in the olden times, if it’s not competing fairly it will cause a ban on the firms. Instead it’s not a perfect competition as perfect competition is never seen in a real world, but it is all fairly competing according to the law and government. The 4 Act Regulates Are: - - Fair Trading Act of 1973 deals with monopoly and mergers. - Restrictive practices act 1976 dealing with agreements individual that limit freedom to trade. - Competition act of 1998 dealing with anti-competitive practices. - The resale price act 1976 deals with imposing minimum price. e) Compare and analyze the UK fiscal and monetary policy with data with UAE fiscal and monetary policy UK Economy contain of tax on every salary paid to the representatives in an organization, as in rate which decreases the wage after deducting the taxation expenses and saving, spending less which influences the gross domestic product as they are spending less where it doesn't permit firms to have an amount high in profit then before. UK Economy has an expansion in the unemployment which was significantly because of government monetary agreement which effected as about the end of the terminated businesses which were no more suitable. The UK Economy has advanced a solid recovery over the previous years and the economy look forward to that this will proceed for whatever is left of their future. Most parts of the economy are demonstrating positive development patterns in the economy throughout its growth, with earlier signs the business ... ... middle of paper ... ...o generate profit. In long run other firms enter the market and the benefits of differentiation decrease with competition. They are more often used to model industries. It is more efficient than monopoly but less efficient than perfect competition. Features of monopolistic competition: - Large numbers of buyers large numbers of sellers Free entry and exit Duopoly - A circumstance in which two organizations possess all or almost the greater part of the business sector for a given item or administration. A duopoly is the most fundamental appearance of oligopoly, a business acquired by a little number of organizations. A duopoly can have the same effect available as an imposing business form if the two players catch up on costs. Features of duopoly: - 2 number of sellers only / Strong Control over Pricing Very Strong Barriers to entry and exit dominating market share
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