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If you are referring to a "perfect competition"- you could define it as the most extreme type of competition, with many buyers . So, there are many companies selling the exact same product, without a restriction on new companies entering into the industry. If your sales accounted for in the industry are low (using percentage), you have a higher competition. On the contrary, if you have say 98% of sales in the industry you are monopolistic in competition. Examples of competitive industries would be clothing and textiles. Just for thought-There are many companies that sell these items.
What else can I help you with?
What business model creates a market structure that most closely approximates a market structure of pure 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.
What is a market structure of the mining industry?
pure competition
What Outline the major feature of a pure competitive market structure?
Out line the main features of parfect competition
What business models creates a market structure that most closely approximates a market structure of pure competition?
Apex question, answer removed, copyright violation
What are five characteristics of pure competition?
I need an answer what are 5 characteristics of pure competition?
Match the type of market structure with each example a pure competition online auctioning b monopoly video rental stores c monopolistic competition water and sewer service d oligopoly?
Pure competition-Online auctioning Monopoly-Water and sewer service Monopolistic competition-Video rental stores Oligopoly-Digital camera makers
Match the type of market structure with each example?
A. Pure competition Computer operating systems B.Near monopoly Fast food restaurants C. Monopolistic competition Online auctioning D. Oligopoly Car makers
Which is the reason why there is no advertising by individual firms under 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.
What are the four basic market models?
Pure competition, pure monopoly, monopolistic competition, and oligopoly.
What are the examples of pure competition?
The textile industry is probably the closest example to pure competition on Earth.
What is an example of pure competition?
The textile industry is probably the closest example to pure competition on Earth.
What best states the main difference between a monopoly and pure competition?
A monopoly involves no competition at all while pure competition involves a high level of competition.
