CBME 203 – BASIC MICROECONOMICS

CANDIDO, JOEVAN T. BSBA – HR 2ND YR. BLOCK C

ORGANIZING PRODUCTION

It’s a process of making goods service to satisfy the needs of the people, for making public service,
provide charity, growth and survival. Example like firm business provide service that help people have a
problem in their personal needs like revenue, tax, capital etc. in the market, provide a service the help
you in daily needs like foods, variety of goods, personal service demand, etc.

Conclusion

To give best service to people , promote good will and to satisfy the needs

PERFECT COMPETITION

Perfect competition is the opposite of a monopoly, in which only a single firm supplies a good or service.
Under perfect competition, there are many buyers and sellers, and prices reflect supply and demand.

Conclusion

to earn enough the companies and the market expectations of consumers to meet the price

MONOPOLISTIC COMPETITION

a market structure which combines elements of monopoly and competitive markets. It is one with
freedom of entry and exit, but firms can differentiate their products

Conclusion

the market will be competitive, with firms making normal profit.

HOUSEHOLD CHOICE AND DEMAND

In several social, microeconomic and government models, a household is the fundamental research
structure. Economics and succession are important. Demand is an economic theory that refers to the
willingness of customers to buy products and services.

Conclusion

Choose the ones that are just right for the family or in general which can save but is definitely available
to everyone.
CBME 203 – BASIC MICROECONOMICS
CANDIDO, JOEVAN T. BSBA – HR 2ND YR. BLOCK C

MONOPOLY

refers to when a company and its product offerings dominate a sector or industry. Monopolies can be
considered an extreme result of free-market capitalism. A single company or group becomes large
enough to own all or nearly all of the market. government license, ownership of resources, copyright
and patent and high starting cost make an entity a single seller of goods. Monopolies possess some
information that is not known to other sellers.

Conclusion

It’s a domain form of competition