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EBay is not a perfect competitive market, because competiters in that industry of online bidding firms can alter their services to be unique. A perfect competitive market must have all identical firms within it.
Wiki User
∙ 14y ago
Wiki User
∙ 12y agoNo.
A perfectly competitive market is one that has the following characteristics:
- Many buyers/Many Sellers -- Ebay has this for some goods that are for sale, but often the items on eBay are either one-of-a-kind, or only sold by one seller, which makes it not competitive.
- Low-Entry/Exit Barriers -- Ebay requires sellers to set up accounts and register personal information, but it is still a fairly low entry barrier. There are virtually zero exit barriers.
- Perfect Information - (Prices are assumed to be known to all consumers and producers) Ebay does not have this as the final sale price is not known until the sale is completed. People may see an item listed at $10, decide they are willing to spend $11, only to discover that the product is now listed at $12, through auto-bidding.
- Transactions are Costless - Ebay charges sellers for each sale.
- Firms Aim to Maximize Profits - On Ebay, firms do not always sell where marginal cost equals marginal benefit, and hence do not maximize their profits.
- Homogeneous Products -- (The characteristics of any given market good or service do not vary across suppliers) The Ebay feedback system can show you that not all sellers provide the same quality goods and service.
Wiki User
∙ 15y agoYes it is because you are just battling against someone else to buy something that may not be worth that much as you are bidding for
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Are eBay and Amazon examples of monopolistic competition?
A monopoly is when one firm has a controlling share in the market. As such he can set the price. eBay is a monopoly Amazon WAS a monopoly but is now simply an online retailer
Value of a snap on tools monopoly game set unopened?
Your best bet is to check Ebay for the current purchases on this item. The value is based on what the market is willing to pay for it.
Why was eBay created?
eBay was created to benefit people who sell for a hobbie / job.
What is a static auction?
A static auction is run online. The seller sets the reserve price and this allows the bidders to place bids around the clock, if desired. Ebay is one example of a static auction.
What the eBay business model?
Ebay is a huge business. business model is online shopping.
How does eBay market their services?
Ebay is a another market place. They market their service as sellers.
What is the market cap for eBay Inc eBay?
As of July 2014, the market cap for eBay Inc. (EBAY) is $66,069,750,370.87.
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It is competitive market everyday comes new things in the market. You can search on ebay and amazon and compare the price and features they provide. But now Asus x series laptop is cheapest laptop which comes with windows 8.
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what is eBay market proposition? how this value proposition translate into marketing offer? how eBay have those markets generated demand?is this demand die from that found in market places? how does eBay build connections with its customer? how could eBay grow its share of customer? pleasekindly answer this all qustion? what is eBay market proposition? how this value proposition translate into marketing offer? how eBay have those markets generated demand?is this demand die from that found in market places? how does eBay build connections with its customer? how could eBay grow its share of customer? pleasekindly answer this all qustion?
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ebay
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Places to buy an orange iPod nano include both Amazon and eBay. Both of these sites allow for users to purchase items with specifications including model and color, and eBay is full of competitive auctions so there is a chance to get the item for less than market value.
EBay is an example of which e-commerce model?
ebay is an example of ____market
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Inexpensive swimwear apparel on the market varies wildly, but there are certainly always going to be some available. Quality does correlate with price though; inexpensive swimwear can be found, but their quality will most likely not be the same as expensive swimwear. eBay and Amazon are websites that offer competitive prices from various sellers.
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eBay or forum vendors
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eBay or craigslist or after market stores
