The following examples are close to the model of perfect competition :
Posted: Thu Jan 23, 2025 4:24 am
The market for agricultural products such as wheat, corn, vegetables - many small farmers offer identical goods, and buyers make their choice only based on the price factor, so the price bar is set uniformly.
Stock market – investors have complete access to information, and the number of daily buy and sell transactions can be in the millions.
Taxi services – any car owner can join the guatemala telegram number database carriers, so the price directly depends on how many cars are in the network and how many requests from customers. Accordingly, on certain days and peak hours, prices can increase significantly, but this is a normal market phenomenon – with a drop in demand, everything returns to its original state.
The main features of perfect competition
In addition to the noted characteristics of perfect competition, we will highlight its other economic features:
absolutely elastic demand for a product - this means that the price is the determining factor when making a purchase decision. This means that when the price decreases, the number of people wishing to purchase the product will increase, and vice versa - an increase in prices will lead to a drop in demand;
rational nature of the behavior of market participants - both producers and consumers. Each of them pursues their own interests (maximum profit or satisfaction of needs), and again the price is of primary importance;
stable conditions for the functioning of the market , absence of any non-economic regulation;
homogeneity of the product and availability of production factors necessary for its manufacture.
7 Mandatory Documents to Increase Sales
Stock market – investors have complete access to information, and the number of daily buy and sell transactions can be in the millions.
Taxi services – any car owner can join the guatemala telegram number database carriers, so the price directly depends on how many cars are in the network and how many requests from customers. Accordingly, on certain days and peak hours, prices can increase significantly, but this is a normal market phenomenon – with a drop in demand, everything returns to its original state.
The main features of perfect competition
In addition to the noted characteristics of perfect competition, we will highlight its other economic features:
absolutely elastic demand for a product - this means that the price is the determining factor when making a purchase decision. This means that when the price decreases, the number of people wishing to purchase the product will increase, and vice versa - an increase in prices will lead to a drop in demand;
rational nature of the behavior of market participants - both producers and consumers. Each of them pursues their own interests (maximum profit or satisfaction of needs), and again the price is of primary importance;
stable conditions for the functioning of the market , absence of any non-economic regulation;
homogeneity of the product and availability of production factors necessary for its manufacture.
7 Mandatory Documents to Increase Sales