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Perfect competition

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  1. describes a market in which no buyer or seller has market power

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 25, 2009
  2. The use of the assumption of perfect competition as the foundation of price theory for product markets is often criticized as representing all agents as passive, thus removing the active attempts to increase one's welfare or profits by price undercut

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 25, 2009
  3. a term from neoclassical economics and microeconomics

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 25, 2009
  4. Such markets are usually allocatively and productively efficient

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 25, 2009
  5. In general a perfectly competitive market is characterized by the fact that no single firm has influence on the price of the product it sells

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on January 25, 2009
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