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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.
the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.
Pure competition, pure monopoly, monopolistic competition, and oligopoly.
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.
A monopoly involves no competition at all while pure competition involves a high level of competition.
A monopoly involves no competition at all while pure competition involves a high level of competition.
The business model that creates a market structure that closely resembles pure competition is a monopolistic competition. Pure competition is also called perfect competition.
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
It is least likely to be in pure competition.
Pure Competition Monopolistic Competition Oligopoly Monopoly