What is the most direct cause of customer loyalty?

 

Oligopoly is market structure where a small number of large firms are there. Oligopolistic industries are characterized by a few dominant firms and substantial entry barriers.

Ratio analysis helps us to evaluate various aspects of a company's operating and financial performance such as its efficiency, liquidity, profitability and solvency. The trend of these ratios over time can be used to check whether they are improving or deteriorating.

The buying and selling of goods is called Trade. Trade is a part of business where goods and services are exchanged for mney and mainly to earn profit. Commerce is used to describe trade and all the other business activities and services which make trade possible like banking, insurance, transport and advertising.

The demand curve facing a perfectly competitive firm is a horizontal straight line equal to the equilibrium price of the entire market because a perfectly competitive firm can sell all units brought to market at the same price.

A price floor is the minimum price that can be charged. A binding price floor occurs when the government sets a required price on goods at a price above equilibrium. Because the government requires that prices not drop below this price, that price binds the market for that good.

A binding price ceiling is one that is set below equilibrium price.

A major purpose of cost accounting is to measure, record and report product costs.