Competitive strategies are used mainly when in a market there are too many numbers of competitors among the same product. They are all competing fairly as in there are strict rules and regulations imposed since 1973 as you can see the old four acts in the olden times, if it’s not competing fairly it will cause a ban on the firms. Instead it’s not a perfect competition as perfect competition is never seen in a real world, but it is all fairly competing according to the law and government.
The 4 Act Regulates Are: -
- Fair Trading Act of 1973 deals with monopoly and mergers.
- Restrictive practices act 1976 dealing with agreements individual that limit freedom to trade.
- Competition act of ...view middle of the document...
Governments are financed by earnings from the central government stores of the UK Economy, business rates, committee duty and fee charges likewise SALIK (IN UAE) and paid parking. The Central government incomes are generally paid income taxation charge, national insurance, contributions/donations, VAT (Value Added Tax) and corporation charges. The UK Economy had been one of the strongest economies regarding expansion, inflation, investment rates, interest rates and unemployment, which remained comparatively low until the 2008-2009 recessions. UK has the sixth biggest national economy on the planet measured by the actual gross domestic product and eighth biggest on the planet measured by acquiring power equality. In the UK the monetary controls the investment rates, inflation rate and audits the interest rates.
The UAE Economy doesn't comprise of any pay duty, income tax or corporate charges. UAE Economy is in a created class and developed country as in 2008-2009 the economy fell in a recession rather they have indirect taxes likewise the Pay Parking; it has no kind of other taxes as in UK economy where it has income tax and corporate tax. UAE is small in size yet is a developed country where it has all kind of facilities to its maximum it is a quick growing economy in its region. The United Arab Emirates is getting less reliant on common assets as a source of income; petrol and oil still assume a significant part in the UAE economy, they are even the part of the World exchange Organization. In the UAE Region the tourism is an alternate key success to its financial development as there are tremendous amounts of visitors going by Dubai in a year. The UAE is the first biggest economy in its GCC Countries which is The Arab World. The oil trades separately give a huge rise in the gross domestic product in the UK economy. The UAE even started an enhancement and liberalization system to its economy to decrease dependence on oil and change its economy from a traditional, work escalated economy to one dependent upon information, innovation and talented work. The UAE government has put a huge measure of capital in divisions, for example, tourism, aeronautics and telecommunications. UAE is recognized as one of the least corrupted in the middle east, the principles and regulations law are generally kept up inside the district, nationals are not permitted to possess property in specific ranges of the emirates, they has an open economy with a high for every capita salary and a sizable yearly exchange surplus, Dubai is a global exchange business city kind.
PART B: Market Structure:-
a) Explain the different types of market structures and their characteristics
Market Structure determines the features of the product sold, how simple it is for infant industries to enter the particular market and the quantity of information available about that industry. It refers to the level of competition qualified by firms in a particular...