Agriculture. Why? Because farmers sell their farmed products to companies who needs goods to be able to sell them directly for those buyers to be able to be satisfied.
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
Perfect competition to what. Please be specific.
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 wheatSemiconductorsUnskilled Labour
No, Perfect Competition is just an imaginary one and it does not exist at all.
Perfect Competition
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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
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Perfect competition to what. Please be specific.
No, Perfect Competition is just an imaginary one and it does not exist at all.
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 wheatSemiconductorsUnskilled Labour
Perfect Competition
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
Perfect competion lowers the cost of good and services by increasing the competition among firms.
they maximize profit
perfect competition
The market concentration ratio for perfect competition is Low (Less than 40%).