What are some examples of perfectly competitive markets?

Answer 1

A perfectly competitive market is one in which there are many suppliers and consumers, and each party has an equal opportunity to sell or buy goods or services. This is a theoretical market in which supply and demand are in equilibrium.

In a real-world situation, markets can be imperfectly competitive, which means that there may be some suppliers who have an advantage over others. For example, a monopolist can charge higher prices than other suppliers, and a monopoly can have a limited number of buyers. In these situations, competition may not be perfect, and it may not be possible to achieve equilibrium.

However, even in imperfect markets, buyers and sellers will generally find each other and reach an agreement that is conducive to both parties. This is because buyers want to purchase goods at the cheapest possible price, and sellers want to receive the highest possible price for their goods. It is important to note that markets can be either competitive or non-competitive, but they cannot be both.

Answer 2

Perfect competition is the ideal market scenario as it allocates the available resources most efficiently. Also referred to as pure competition.

There are no real-world examples for perfectly competitive markets. But the best example may include agricultural markets like many farmers producing similar crops such as wheat or mango.

3 Examples of Perfect Competition

1. Farmers’ markets: The average farmers’ market is perhaps the closest real-life example to perfect competition. Small producers sell nearly identical products for very similar prices. The entry and exit of some vendors does not change the overall marketplace, and the prices and product information is clear and fairly uniform.
2. Emergent tech: Often, as in the case of early online retailers, there are no clear market advantages, and many tech companies offer basically the same services for similar prices. An example is early social media companies—several new firms offered comparable services for virtually the same price.
3. Discount brands: There may be cheaper versions of the same product in supermarkets, such as cereal made by the different brands. None of these substitutes will be significantly different in quality or price, so they resemble a perfectly competitive market.

Answer 3

The Norwegian market?

Norway is a complete and most competitive market, but growing every day. we assist foreign companies to enter the Norwegian market. We help facilitate the establishment of limited companies or departments, as well as subsequent accounting that meets the needs of the SMB market at a reasonable price.

Answer 4

You can find them in economics textbooks, not in the real world.

Answer 5

the plasma Tv market