In Economics, the following are the most important features of a Perfect Competition. Large number of buyers and Sellers. Homogeneous Product. Free entry and exit conditions. Perfect knowledge on the part of buyers and sellers.
- What is an example of competition between animals? - An example among animals could be the... (Read More)
- Do you think competition between coworkers is? - Competition between co-workers is healthy and unavoidable... (Read More)
- Is perfect competition good for economy? - Neoclassical economists claim that perfect competition would... (Read More)
- What is a price taker? - A producer who has no power to... (Read More)