I'm taking a basic Economics course as part of Humanities credits this semester. We were discussing monopoly and perfectly competitive markets. The prof was writing down the conditions when we classify a market as perfectly competitive, when it struck me that prostitution is a nearly perfect example of a perfectly competitive market. I told this to Spanky too, who was sitting beside me. There is free entry for everyone to enter the market, there are infinite buyers and sellers, each seller might have a unique selling point, and one buyer or seller cannot influence the price.
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8 comments:
Actually, no. There is a high barrier to entry (presence of several cartels and local monopolies... it's a rough world), and the number of sellers is not as high as you might think. (High-risk job, very few people want to take it.)
Whatever ;-)
One buyer may not,
But One seller can influence the price!
What say?
N-a-h-a-ice!
I agree with anon, in fact, there is no question of free entry with an entire hierarchy of pimps and mistresses..
I agree with Anon and Dushy. There are less sellers, and assume one Seller is Giselle Bundchen, ASSUME (:P). Slingh over no?
if that was it..we wouldnt have been "virgins" till now !!!!!!
if that was it..we wouldnt have been "virgins" till now !!!!!!
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