 |
 |
 |
|
About us!
~* Dar- born: john 17/12/87 :) ~* Ling- born: jingjing 21/06/87 =)
Navigation
Dearies~ *smooch*
Archives
Tagboard
Credits
|
|
Hiiiii bloggie... Its... monday now. Just had GP common test and i'm gonna remember the word 'economic bonanza' forever man. Argh. -_-"' Oh well, its over anyway. Wondered if i continued to blog till i'm 20 or sth, den wouldn't i have like at least thousands over entries? Wow... Maybe I'll look back at everything and laugh and cry next time. =) Yay... In the meantime.. I'll continue to add! hee hee hee...
Hmm... Maybe I should try a new way of starting an entry. How abt this... It always starts with a frown. Deepens into a tear and ends with a forgotten memory. How many times in life do u feel worried, sad, hopeless, dejected, forgotten? Countless i bet. More times than happiness? Perfectly fine because life is never without setbacks. Really wonders how much a person had gone through if he/she lived to the age of 70. The dried sorrows, faded memories, and all is left will be a society who forgets him/her in a matter of seconds. What is the reason of her hanging on? Who knows? Some hang on for hope, for family, for the chance to see their grandchildren, and perhaps never giving up hope waiting for one who truly loves them. Or maybe hanging on to something which they had regretted doing decades ago. What are u hanging on to? Me? I guess I'm hanging on to the fact that I don't believe life will be so cruel. Maybe it is. I just wanna be happy. Plain, simple bliss. That's the wish of everyone out there isn't it? But I guess that's why people say the simpliest things are the hardest to get. I hope I'm not being greedy, but maybe one day I can truly say to the world, 'I'm happy'........... Here am i, writing tons of crap. I think its because of econs. HA. test tml and I haven't really touched it yet. (NOTE: SKIP THE NEXT FEW PARTS IF U DUN WAN TO BE BORED TO DEATH. DON'T SUE ME TOO. TRY UR LUCK ON SOMEONE RICHER. I CAN ONLY AMUSE YOU. HEE) Oligopoly, monopolistic competition, monopoly, perfect competition. Not in order of anything but let's see. Hmm.. I'm juz going to rattle off what I can rmb. Monopoly: unique product, strong mkt power, strong barriers to entry, price setters, allocative inefficient (i think). It is hard to get monopoly in a market unless its natural monpoly, which is the case of MRT system in Singapore. Has high operating costs and high initial cost so MES occurs at a very large output. Another reason is to protect the interests of the consumers. Private firms will not want to be monopoly because although it yields high supernormal profits, it needs govt licenses and govt regulation will be hot on their heels. which i guess is a bad thing... Hmm... Perfect com. aka PC firms. many small firms with no market power. no barriers to entry *must draw two graphs. one is industry's ss and dd curve and one is the price taken and the firm's own curve. homogeneous products, perfect subtitues. price taker. eg: agricultural prdts and stock markets. allocative efficient. serves public interests best but not attainable in reality. because firms would want to earn supernormal profits and in order to do so, they'll start differentiating their products and thus we've come to monopolistic com. which has many small firms but differentiated products thus they have some mkt power though not much. but now its not allocative efficient as P is not = to MC. most likely to engage in price and non-price com. though i dunno wad izzit. In short run, they can make supernormal profits cos of little com cos of differentiated products. attracts more competition thus more firms will come in. then it leads to a decrease of demand in each firm with AR and MR shifting left den the profits become normal profits. in long run, everything is normal profits thus no incentive for entry or exit of firms. What's left? Oh... oligopoly... The Big-O. From monopolistic com, firms with differentiated products would want to make more profits thus thru ways of merger, collusion, bang bang, whatever, they form larger firms. it can be achieved thru more advertising and thus gained more mkt power. there's still some other ways i think. hmm... oh well. thus they now become..... OLIGOPOLY!!! which is few large firms with strong mkt power, strong barriers to entry, differentiated products by image, quality etc. typical in capital and tech intensive industries. competition by price and non-price methods. UNpredictable. either compete rigorously or collude. price rigidity. kinked demand curve. a darn hard curve to draw. very stupid too, cos it doesnt state how the current price is determine. only predicts that the current price will be stable. Different collusion methods: Cartel, domination firm price leadership, barometric firm price leadership. factors favouring collusion: presence of few firms, more identical products, awareness of methods and common costs (nth to hide), stabel industry aka no strong threat of new competition. Good: ability and motivation to innovate. due to supernormal profits and thus spent large amount of $ on R&D and have to be technologically progressive. most dynamic. product differentiation and development benefits consumers. Bad: allocative inefficient (P>MC). wastages of resources spent on advertising and extensive prd differentiation. small scale of production compared to monopoly. few small firms but they might decide to collude, thus undesirable to consumers as they behave as a monopoly. FINE. I'll stop. You can start reading again now. Sigh. Dar... I miss u. Gimme ten mins of ur time and i'll be contented. satisfied. over the moon. whooping with joy. i can start a vocab book. heh heh. Oh well... There's a limit to a day of typing. Which means i'm going to stop now, because i feel that its selfish of me to let dar read so many and take up so much space. *guilty* Wish i cld go on and type like hell, but no, econs notes are sitting there patiently, waiting for me to flip thru them. Yeah yeah yeah. To end this.... There's a nagging feeling deep within her. Hoping someone can alter. Till the day this feeling is gone, this lady won't be smiling for long. Someone cheer me up. either dar or ling posted this. go figure. : ) =P at 9:09 PM
|