1981-12-31 — Page 23

育教僑華頁三第張六第

日六初月二十年酉辛馨夏

WAH KIU YAT PO

郭日僑華

四期

日一卅月二十年一八九一圈公年十七国民简中

1982

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Economics (13)

K.K, Wong & L.T. Chan

NIEL & DALE PRESS LTD.

MARKETS

1. Perfect Competition

Perfect competition exists in a theoretic- a1 environment in

hich the following Conditions

are

fulfilled: (a)large number of

buyers and sellers

With a large number of buyers and sellers the total transaction will be very great. This means that each of them cannot exert his personal influ ence on the market price of the product. by increasing or decreasing its output. Thus in perfect competition firms must take the price at which they are to sell as fixed and the

demand for the product of an individual firm is perfectly elastic. (b)homogeneous product

Under' a perfectly competitive market situation, the product of any one seller must be identical with the product of any other seller. This means that buyers have no motive for preferring the product of one firm to another and if a firm raised its price, its sales would fall to zero. (c)free mobility of

resources

- This implies that each required factor of production must be perfectly mobile. (d)perfect knowledge of

the market-

All buyers and sellers must possess - full information of the commodity if the market is to be a perfectly competitive

one:

free entry by new firos-

There should not be any restriction for the entry of new

firms into the market.

11. Imperfect competition

In real life

英文

初中成績評核預習

̇雄風出版社

ENGLISH

13.

situation, the

conditions of perfect

competition cannot

always be met.

Whenever one or

more

of the above require- ments are not satis-

fied, the market is discribed as an

imperfect one.

Imperfect competition

can be classified

into three types according to its

degree of imperfec- tion. They are: monopolistic competi- tion, oligopoly and monopoly. (a)monopolistic

competition

This has three fundamental characteristice: (1)there is a suffi-

ciently large number of sellers so that each can act independently of the other firms. (2)products from

various sellers are

differentiated. (3)market entry of new firma is relatively

easy,

In monopolistic competition, individual sellers can have influ ence over the market price. This is because when there is a large number of their products for services, the product

of one firm is not regarded as a perfect substitute of another.

An example of monopo¬ listic competition is to be found in the retail trade. The ease of entry in this business résults in excess capacity and differentiation may take the form of difference in location (for instance, one shop being more conveniently situated for some people), the general attitude of the shop- keeper, and the extent of the service available.

Actually, there are various sources of differentiation such as actual physical differ- ence, location, service. consideration, reliabi- lity, personal attitude, etc. In addition, price may affect the choice of products since many buyers prefer those sellers who offer a lower price. Since differentia- tion of product is essentially created by branding and packaging, marketing activities play a major role in mono- polistic competition in- attracting customers to patronize a particular brand.

(b) oligopoly

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This is a form of imperfect competi- tion in which there are only a few producers as compar- ed to perfect competition where there is a large number of producers, A general feature of oligopoly is that the price policy of a firm is influenced by that of its competitors. This can be subdivided into perfect and imperfect oligopoly.

(1)perfect oligopoly

In perfect. oligopoly, the commodity is homo- geneous and consum- ers have no prefer- ence for the product of one firm as compared with another. A price cut by one firm will lead to similar price cuts by other producers. Hence, the largest firm will usually become. the price leader. (2)imperfect oligopoly

In this situation, some degree of differentiation exists between the products of differ- ent firms. Even a slight differentis- tion in the product will make one product not a perfect substitute for another, Under these conditions, competition tends to be very keen and many firms may employ mes 8. advertising or price-cutting strategies.

(e) monopoly

In the strictest meaning of the term, monopoly occurs only when there is one

producer of a commodity for which there is no substitute, a situation often. referred to as absolute monopoly, This is quite rare in real life to have only a single producer of a product and even rarer to have no substitute for the product at all. Thus the term monopoly is oftern used to describe forms of very imperfect competition as in the following

situations: (1)when one firm or a

of firm work- group

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不隨禮柯多新彩無報請遠 另報拜式采穎色任販就道 敉附出印多雜華歡訂近閱 送版刷姿誌僑迎閱向戶

ing together controls a large proportion of the total supply of a commodity. For instance, most of the world's supply of rubber comes from Malaya. (2)when it is westeful

to duplicate a given service as in the case of public utilities.

(3)patent rights – a

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producer's monopoly in the home market may be protected from foreign competition by means of a tariff on imports, thus giving rise to a monopoly situation.

腰室

<+=>

however, the dynasty could have been saved. With the opening of A China by the Western powers, China knew that it was advantage- ous, if not absolutely necessary, to reform. herself. Reform was the outcome of Western

impact. It was a product that the West gave China. In short, there was a great link,

a more in-depth explana- tion of a point. You may think, of course, that

one needs more historical knowledge. But the facts that the above passage contains are not specific; they are what every budg

average history student should know. Besides, one has just to mention the materials related to the point on a general level; one need not make a very of the point itself. This is the key to elaboration. Think of the things connected with or related to the

or causal relationship, detailed analyze

between reform on the one hand and Western impact on the other. The two cannot be separated for consider- ation, otherwise reform would be divoraed from the coming of the West, which is meaningless..

What have you learnt after reading the passage? Practically nothing. The writer keeps repeating the same point, and although he is very skilful to present the point in good English, the fact is that the point is the same

nevertheless. The last.

99 CA LA KIZ TILAA ART# word of the passage súms

HISTORY (13)

Philip Y.I Woo

MILL & DALE PRESS LTD.

Elaboration and tition

(continued from the. previous issue).

Students often "think- they are elaborating on a certain point in an essay when in fact they are just repeating it again and again. We must. clearly recognize the difference between

elaboration and repetition. Consider the following passage, which tries to explain how the coming of the West led up to the 1898 RefoTM move- ment in China:

up the whole passage: meaningless.

Now consider the following passage, which 18 about the same point. But you can see what elaboration is –

The reform movement of 1898 was indeed the result of the coming of the West, The West came. to China in the 18th and 19th centuries, and opened up China by force for trade after 1842, This produced two reactions among the Chinese. One was further resistance. Conservatives became more die-hard in opposing things Western. The other was reform, by which some progressive officials like li llung- chang hoped to save China from the Western threats. The reform movement in The Self-Strengthening 1898 was indeed the Movement (1862–1894) was result of the coming of one such reform effort. the West. The West came

Its failure, however, to China and East Asia,

drove many Chinese and stimulated reform.

scholars to advocate deeper and more thorough reform - thus the 1898 Reform. The 1898 Reform, in short, was basically brought about by the coming of the West to East Asia since the mid- 19th century.

The coming of the pa

had impact upon

and China responded by reform. The Westerners made China, or more exactly the Ch'ing dynasty, decide on reforming itself, Without reform, the

Ch'ing dynasty would not or could not be saved. With reform,

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Write down the name of the shop that offers prizes to cus- tomers?

How much are the prizes worth in total?

If I do not buy anything, can

As you may have already observed elaboration is

win a prize? If I buy a rice cooker which. costs $ 200 in Fortress, Can I win a prize? Will I win more if I buy mora? Can I get a washer if win Superprize? Can I get a television if I win a Big Bonus Prize?

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How many types of electrical

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報日僑華閱訂期長請

5 -4 9 1 1 8 1

central point, and mention all of them with the final ain of bringing out the importance of the central point itself.

Never jump from the central point to other related materials and end up nowhere. Be sure that you

would round up all the related materials and come back to the central point itself.

In the above case; after making the first statement, one would logically expect this question, "What do you mean by the

the West?" So you should.

and you

explaining of

should be able to, other wise you simply do not understand the central point itself. Also, the ability to describe "reform and resistance" in the third sentence

comes from just a general understanding of the whole period of history, which you should have. The ability to mention Li Hung-Chang in the fifth sentence is assumed, If you forget how to spell the name, well,

choose another reformer, Tseng Kuo-fan, for example.

To sum up; elaboration of a certain point does not require very detailed information on that point. Just look at the point from a wider angle of view, and include side- issues that make the

point clearer in meaning, You are still writing ong the point, only that you are expanding it, Avoid including those side- issues that you are not sure of

How many types of products are

choose if I win a Fortress Big Bonus Prize?

Mere for me to

Answers:

1.

2.

3

17.

Fortressi

$ 1000000. No,

you can't. No, you can't. Yes, you will. Yes, you can. No, you can't.

Four. Five.

The end

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