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In economics, perfectly competive markets are those where neither consumer nor producer have influence over prices; they are price takers. Examples follow:
- Agritgultural Products, commodities such as corn and wheat
- Semiconductors
- Unskilled Labour
Wiki User
∙ 14y ago
Wiki User
∙ 9y agoThere 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.
Wiki User
∙ 11y agoApples... 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.
Wiki User
∙ 11y agoAgriculture is one example where there are a very large number of individual suppliers for many products.
Wiki User
∙ 15y agothere are no such companies that are in perfect competition only some who come close
Wiki User
∙ 11y agothe
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What use is the concept of perfect competition in business economics?
circular flow
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.
Explain in detail with suitable examples the imperfect competition and 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
Is bottled water considered a perfect competition?
Perfect competition to what. Please be specific.
Does perfect competition exist?
No, Perfect Competition is just an imaginary one and it does not exist at all.
What use is the concept of perfect competition in business economics?
circular flow
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.
Use examples to show the difference in the profit maximization goal of perfect competition and monopoly?
Shut
Explain in detail with suitable examples the imperfect competition and 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
Is IBM perfect competition?
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Is bottled water considered a perfect competition?
Perfect competition to what. Please be specific.
Does perfect competition exist?
No, Perfect Competition is just an imaginary one and it does not exist at all.
What is a definition and Example of competition?
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
Why did American want to Americanized immigrants?
Because of business competition
What is the market structure with the most competition?
Perfect Competition
Types of Market Competition?
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
Are there any modern examples of perfect commerce?
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".
