![]() ![]() They do not simply collect high prices, customers willingly pay them a high price because of the superior quality they provide. Companies can create their monopoly only when they produce excellent products.When companies do not face competition, then they can focus on things other than profits, like the wellness of employees, innovation, making the world a better place, etc.Since companies will earn less, they will pay minimum wages to their workers.Competition decreases the prices of goods which results in decreased profits, so it is bad for businesses.But there is another side of the coin as well. ![]() It is good for customers as well because it keeps the prices low. ![]() It is widely believed that perfect competition is a healthy state for the market players because margins are almost equal for all the competitors. Perfect Competition vs Monopoly: Why Monopoly is better than Perfect Competition? What does it mean to go from Zero to One?ĭoing something which you already know how takes the world from “ 1 to n” but creating something new takes the world from “0 to 1”. So adding the feature of “Stories” (like Snapchat) in Instagram was like going from “1 to n “ whereas creation of a rocket by SpaceX which can be reused after launching the satellite was like going from zero to one. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |