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Assuming that all the goods in the market are identical, thus sold for the same price, that the information is freely accessible to everyone and that every other factor, a part from supply and demand, rem...

Globalisation is a process of deeper economic integration between countries and regions of the world that has accelerated in the past 50 years. Globalisation benefits large TNCs such as Nike who can reduc...

In competitive market, there is no governement interference and a lot buyers and sellers, so the market can operate equilibrium. When there is excess supply, there are too many goods which are not purchas...

Under a perfectly competitive market, there are a large number of buyers and sellers, where each of them are price-takers. If we imagine a supply and demand diagram, the S=D at equilbrium. If firms are in...

This answer would usually be marked out of 25, therefore should include:

Detailed introduction which explores examples of deflation in modern world economies and sets a brief insight as to the cont...