Perfect competition/Definition: Difference between revisions
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imported>Nick Gardner (New page: The property of a hypothetical market in which no producer or consumer has the power to influence prices, each producer and each consumer acts independently, all products have identical qu...) |
imported>John Dvorak m (Template:Def Perfect competition moved to Perfect competition/Definition: Moving_definition) |
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Revision as of 17:27, 22 May 2008
The property of a hypothetical market in which no producer or consumer has the power to influence prices, each producer and each consumer acts independently, all products have identical qualities that are known to everybody, and there are no barriers to entry (see competition).