ECO401 - Economics 1st GDB January 2019
The Case:The processed food industry in Pakistan has made significant progress in recent years. The industry is now focusing not only on traditional processed food items (e.g., cereal, biscuits, jam, pickles, juices, spices, etc.) but also on value added products, such as frozen ready-to-cook/fully cooked food, healthier snacks, dressing and sauces, processed meat and poultry. A large number of firms have come up in the market to cater the rapid changing needs of the customers. Despite of huge competition, this industry has huge potential to generate profits due to high demand of the customers.Requirement:Being a student of economics, analyze the topics of market structures carefully and identify the market structure category in which processed food industry fall. Justify your answer by applying the characteristics of that market structure on the given industry.See More
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