Consider the discussion below between Kriss and Naz.
KRISS: With the growth of on-line shopping, price comparison websites and falling prices for many consumer goods in recent years, I think business competition is becoming more like the economic model of perfect competition.
NAZ: Rubbish. Look at Tesco, Microsoft, BP, General Motors, Citibank, Proctor and Gamble, Unilever…. All big firms, dominating their markets, advertising heavily, keeping out their rivals…
KRISS: But Wal-Mart has driven prices down in the US retail market…
NAZ: Oh, and you think its ‘the market’ that has driven down Wal-Mart’s prices? I think its Wal-Mart’s economic power.
Using your understanding of the economic ‘models’ of perfect competition and oligopoly,
[a] WRITE AN ESSAY that discusses the case for and against Kriss’s view that ‘business competition is becoming more like the economic model of perfect competition’
very grateful if someone can help me with the main issues i can write about since i have not a clue ? thankyou
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