When monopoly over the market isn't existing. If anybody(actor) can set their own price for their price at a competitive level.
The textile industry is probably the closest example to pure competition on Earth.
The textile industry is probably the closest example to pure competition on Earth.
well i thik we have to because it is all a study of marketing........
WALMART
markets for agricultural goods such as sugar and for finacial securities such as shares are the closest approximation to pure competition . in reality , pure competition doesnt exist
Pure competition is one that occurs when there are no artificial factors introduced in the market. This means that there would no government regulation.
Online auctioning is an example of Pure Competition. Here are some examples of the others: Monopoly - Sewer Service Monopolistic Competition - Video Rental Oligopoly - Digital Cameras
when the people have to fight for lower wages
I need an answer what are 5 characteristics of pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
Pure competition, pure monopoly, monopolistic competition, and oligopoly.
A monopoly involves no competition at all while pure competition involves a high level of competition.