An idea or a principle relating to something abstract is a: ответ на тест 25559 - Английский язык

An idea or a principle relating to something abstract is a ...

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The realm of 1 ______________ of to-day influences almost, every aspect of human activity, while it was only in the beginning of our century that the basic idea, which was to develop into one of the most astonishing sciences of our time, was conceived. It was our Russian 2______________ A. S. Popov, who discovered the principle of wireless 3______________ that finally led to the development of electronic 4______________ for use in various communication devices.

A disagreement or argument between parties is …

He knew himself _______ strong enough to take part in the expedition.

The resistance of a material to breaking when there is a crack is called …

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Competition and Market Conditions
1. Competition is the economic rivalry that occurs among businesses when producers in a given industry attempt to gain a larger share of the market. Economists use the term «market structure» to describe how competitive specific industries are. Perfect competition and pure monopoly are the opposite extremes of the market structure continuum.
2. Perfect competition has many sellers of the same product, while pure monopoly has only one. Perfect competition exists when there are many buyers and sellers, none of whom control prices. In contrast, pure monopoly exists when a single firm controls the total production or sale of a good or service.
3. The most competitive type of industry is that with perfect competition. Four conditions must be present in the market structure for perfect competition to exist.
First: a particular good or service must have many sellers and buyers available. In addition, each seller must account for just a small share of the overall sales in the market. The goal of these sellers is to attract enough buyers to their businesses to earn a profit.
Second: the good or service offered by one competing firm must be similar or identical to those offered by other firms. In such a situation, buyers may choose freely from the selection.
Third: buyers must have easy access to information on the products and prices available. This information allows buyers to make intelligent choices about which goods to purchase based on price and quality.
Fourth: entrance to and exit from the industry must be relatively easy and inexpensive. In a purely competitive market structure, firms can easily enter a profitable industry or leave an unprofitable one.
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