Questions

Competition  occurs when two or more organisations act independently to supply their products to the same group of consumers.

There are mainly two cases when firms can compete. One is price where firms are selling identical or very similar products, they must compete on price with each firm trying to undercut the others. The other is differentiation. A non-price competition depends on making a product different from those of competitors and by giving it distinctive qualities that are valued by the target market. This might include branding, styling, special features or higher levels of customer service. Good competition provides more options to customers and also brings with it improved  customer services.

The Aufbau Principle states that in the ground state of an atom, an electron enters the orbital with lowest energy first and subsequent electrons are fed in the order of increasing energies.

All chemistry is based on sharing electrons. A chemical bond forms when two atoms transfer or share outer electrons to complete their outer shells.

The eye can see images separately only if they are exhibited at an interval of more than 1/10 of a second. In the case of a movie, the still pictures come one after the other at less than this minimum interval. So we do not see them separately but only as a continuous moving picture.

IPCC stands for the Intergovernmental Panel on Climate Change. It was established in 1988 by the World Meteorological Organization and the United Nations Environment Programme.

• IPCC, with respect to Chartered Accountancy, stands for Integrated Professional Competence Course. This is the second level of the CA course.