Difference between Monopoly and Perfect Competition! 1. Number of Buyers and Sellers: In the perfectly competitive market the number of buyers and sellers is very large. There is perfect competition among them. Price is determined for the entire industry by the forces of demand and supply. All firms have to sell their product at that […]
Difference between Monopoly and Perfect Competition | Economics
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Gross Money Doctrine (GMD) and Net Money Doctrine (NMD)
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The upcoming discussion will update you about the difference between Gross Money Doctrine (GMD) and Net Money Doctrine (NMD). Gurley and Shaw have made a distinction between Gross Money Doctrine (GMD) and Net Money Doctrine (NMD) for monetary analysis. In their “modified second model”, they divide the economy into three sectors – consumers, business firms […]