This blog provides an overview of the key ingredients for business success, how businesses are organised, how they communicate, the characteristics of the environment in which they operate, and how this shapes them and their activities. You will also look at the importance of innovation and enterprise to the success and survival of businesses, with the associated risks and benefits.
Market structures: perfect competition, imperfect competition. Features of different market structures: number of firms, freedom of entry, nature of product.
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