MARK DAVID B. SABELLA.

BSBA - MM3

1. What is the difference between perfect competition and oligopoly?

Ans; the difference between perfect competition and oligopoly is the An oligopoly is a market condition
in which a limited group of sellers control the marketplace and offer a similar product at a comparable
price. The gas industry is a good example of an oligopolistic market, where a small number of vendors
offer the same commodity to a large number of customers. And the Perfect competition occurs when
sellers in a market place have no significant advantage over one another since they sell the same
product at identical pricing. There are a lot of consumers and sellers, and because the products are so
similar in nature, there isn't much rivalry because the buyer's wants may be met by any seller in the
market.

2. What agricultural product will you sell in the market?

Ans: for me as a marketers the product i will sell in the market is rice because rice is a key variable for
farmers, consumers, and governments in most of Asia, and in many other parts of the world. Although
the world market price of rice has declined over time, domestic prices are more relevant for farmers and
consumers