Competition-MicroEconomics Term Paper Example | Topics and Well Written Essays - 1750 words

Competition-MicroEconomics - Term Paper Example A large number of firms, product differentiation and easy entry and exit are the main characteristics of monopolistic competition. Competition is one of the important market forces. There are mainly two types of competition exist: price competition and non-price competition. Price competition is mainly experienced in a highly competitive market where perfect competition takes place. On the other hand, non-price competition occurs mostly in monopolistic market situations in which competing firms offer different attractive offers and special discounts with an aim of attracting and retaining customers. Competition provides an environment in which not only buyers benefit but also sellers enjoy normal profits. For the buyers, competition is a source to obtain reasonable but competitive prices for goods and services and they do not need pay additional charges for the goods and services. This mostly occurs in perfectly competitive market in which buyers have perfect information about the goods and services and homogenous products are sold. Monopoly is form of market structure in which there is only a single seller who controls the entire supply of goods or services. Monopolistic competition is a combination of both perfect competition and monopoly. In which, there are certain characteristics of both monopoly and perfect competition remain functional. In the following parts of the paper, first definition of competition has been provided and it is followed by types of competition. After defining each type of competition, a conclusion part has been included to sum up the paper. Firms observe two types of competition: price competition and non-price competition. The firms compete with each other to attract and retain customers. For this purpose, they adopt different competition strategies to entertain their business objectives. Diminishing the price of their product below the price of competitors is one way to increase

Culture and Religion - Shrine Pilgrimage in Turkmenistan Essay - 1

Culture and Religion - Shrine Pilgrimage in Turkmenistan - Essay Example These groups find their linkage with four caliphs of Islam. Owlat people are given special respect by tribes of Turkmenistan and their property is inviolable in Turkmenistan. This status of inviolable property has strengthened the Owlat people by ensuring economic stability. Pilgrimage of shrines is the activity that kept people of Turkmenistan on the path of Islam. Despite all the banes of soviet rule on pilgrimage activities, people kept visiting the holy sites because of their emotional and spiritual attachments. After getting the independence from soviet rule, the pilgrimage activities once again flourished in Turkmenistan. Importance of holy activities and their impact on human life and on culture is discussed in detail in paragraphs to follow: Pilgrimage culture prevailed by early tribal settlement in Turkmenistan and this culture and trends were brought by â€Å"Oghuz Khan†. Turkmen follow â€Å"holy groups† known as â€Å"Owlat†. Six Owlet groups are respected according to level of their spiritual powers. These groups find their linkage with four caliphs of Islam and ultimately with Prophet (peace be upon him). Turk people started considering Owlat people for different festivals of life like, marriage, life cycle, cultivation of crops and religious guidance etc. Every important work of human life used to get started with the hands of an Owlat, for the reasons of good end. â€Å"Gonambashi† is the term used for head of a cemetery in Turkmenistan. Gonambashi is the first man buried and around him, other people of community are buried. Gonambashi was respected for its spiritual powers to help people coming to his grave. â€Å"Keramatlier† is another word used during shrine activity that means â€Å"place of miracles†. According to soviet specialists, Muslims of 20th century called themselves â€Å"half Muslims†, because of not following real teachings of Islam. Soviet rule aimed at anti religious