In economics, perfectly competive markets are those where neither consumer nor producer have influence over prices; they are price takers. Examples follow:
There is no perfect competition in the real world, however, a number of approximations does exist. Agricultural vendors and free software vendors are example of people who offer perfect competition.
Apples... Oranges. Farming is closer to perfect competition. In order to be "perfect" each supplier would be able to see every other transaction and be able to adjust their price accordingly.
Agriculture is one example where there are a very large number of individual suppliers for many products.
there are no such companies that are in perfect competition only some who come close
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The business model that creates a market structure that closely resembles pure competition is a monopolistic competition. Pure competition is also called perfect competition.
In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
Perfect competition to what. Please be specific.
No, Perfect Competition is just an imaginary one and it does not exist at all.
circular flow
The business model that creates a market structure that closely resembles pure competition is a monopolistic competition. Pure competition is also called perfect competition.
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In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Perfect competition to what. Please be specific.
No, Perfect Competition is just an imaginary one and it does not exist at all.
When business are marketing and selling a similar product or service. The business would have shares of the same market. Two classic examples of competition: Coke v Pepsi and Nike v Addidas
Because of business competition
Perfect Competition
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
No, perfect commerce is an antiqued idea that does not apply in today's globalized economy. The interplay of business in today's modern world is far from "perfect".