Perfect competition is considered an idealized model of a market economy. This is a market structure where buyers and sellers adapt to the existing market conditions and cannot influence the price, but form it by their total contribution to market demand and supply.
With this model, the competition between sellers reaches its peak. Since market participants have practically no influence on the terms of sale, the economy becomes resistant to inflation, unemployment, and other negative processes.
Perfect competition is considered an idealized model of a market economy. This is a market structure where buyers and sellers adapt to the existing market conditions and cannot influence the price, but form it by their total contribution to market demand and supply.
With this model, the competition between sellers reaches its peak. Since market participants have practically no influence on the terms of sale, the economy becomes resistant to inflation, unemployment, and other negative processes.
Perfect competition is considered an idealized model of a market economy. This is a market structure where buyers and sellers adapt to the existing market conditions and cannot influence the price, but form it by their total contribution to market demand and supply.
With this model, the competition between sellers reaches its peak. Since market participants have practically no influence on the terms of sale, the economy becomes resistant to inflation, unemployment, and other negative processes.
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