Questions:

Q1. Describe the different characteristics of a perfectly competitive market compared to a monopoly market. Using examples of real markets or companies, explain whether you think either of these strict market definitions exists in practice.

Q2. Online enterprise has dramatically changed the structure of many industries in recent years. Amazon holds the unusual position of being a dominant firm (with some monopoly-like powers) within a traditionally highly competitive market (i.e. the market for books and home technology).Using economic theory, discuss what factors have allowed Amazon to achieve such remarkable growth and industry dominance.

Q3. Using examples, discuss the micro economic implications at firm level of an extended period of recession – consider concepts such as product mix, income elasticity, investment strategy and demand and supply of goods.

Please note the following:

– Please use examples for well known companies which are applicable to the questions. (I prefer if you tell me what are the companies before you start)

– These questions should be answered in essay format. (Coherence and the Unity of Essay)

– Graphs and drawing should be included for each question.

– 1500 words (10% Plus or minus)

– Minimum 15 list of references.

– Harvard Style.

– Citation whenever you quote or summarise from a book or a academic article.

– 0% Plagiarism.