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  2. Factor market - Wikipedia

    en.wikipedia.org/wiki/Factor_market

    In economics, a factor market is a market where factors of production are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc. [1] Firms buy productive resources in return for making factor payments at factor ...

  3. Economy of Singapore - Wikipedia

    en.wikipedia.org/wiki/Economy_of_Singapore

    This is an accepted version of this page This is the latest accepted revision, reviewed on 3 December 2024. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 5,917,600 (Jun ...

  4. Circular flow of income - Wikipedia

    en.wikipedia.org/wiki/Circular_flow_of_income

    The flow of money is shown with purple, and the flow of goods and services is shown with orange. Money flows in the opposite direction from goods and services. [1] Basic diagram of the circular flow of income. The functioning of the free-market economic system is represented with firms and households and interaction back and forth. [2]

  5. Purchasing power parity - Wikipedia

    en.wikipedia.org/wiki/Purchasing_power_parity

    The goods that the currency has the "power" to purchase are a basket of goods of different types: Local, non-tradable goods and services (like electric power) that are produced and sold domestically. Tradable goods such as non-perishable commodities that can be sold on the international market (like diamonds).

  6. International business - Wikipedia

    en.wikipedia.org/wiki/International_business

    Some consumer electronics producers such as Samsung, LG and Sony, and energy companies such as Exxon Mobil, and British Petroleum (BP) are also multinational enterprises. Multinational enterprises range from any kind of business activity or market, from consumer goods to machinery manufacture; a company can become an international business.

  7. Diamond model - Wikipedia

    en.wikipedia.org/wiki/Diamond_model

    In this model, four attributes are taken into consideration: factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry. According to Michael Porter, the model's creator, "These determinants create the national environment in which companies are born and learn how to compete." [1]

  8. Non-price competition - Wikipedia

    en.wikipedia.org/wiki/Non-price_competition

    Monopolistic market structures also engage in non-price competition because they are not price takers. Due to having rather fixed market prices, leading to inelastic demand, they engage in product differentiation. Monopolistic markets engage in non-price competition because of how the market is designed where the firm dominates the market.

  9. Horizontal and vertical market - Wikipedia

    en.wikipedia.org/wiki/Horizontal_and_vertical_market

    A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. A horizontal market is a market in which a product or service meets the needs of a wide range of buyers across different sectors of an economy .