Title: Strengths & Weaknesses of Pure Competition in Economics | Small Business - Chron.com
Headings: Strengths & Weaknesses of Pure Competition in Economics
Strengths & Weaknesses of Pure Competition in Economics
What is Pure Competition?
Strengths of Pure Competition Theory
Weaknesses of Pure Competition Theory
Considerations

Content: In reality, consumers do not have perfect information about prices, and most markets have at least some barriers to entry, and some differentiation between products. Considerations
Pure competition allows for some analysis of markets that exhibit many of the characteristics necessary for perfect competition to work, but in the end, it is just a theory. Small businesses often focus on niche markets with few competitors, and on releasing unique products and services that are different from those offered by competitors, both of which are counter to perfect competition. ‒‒:‒‒
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References
Boise State: Pure Competition
Cliffs Notes: Conditions for Perfect Competition
Fullerton College: Perfect competition
Writer Bio
Gregory Hamel has been a writer since September 2008 and has also authored three novels. He has a Bachelor of Arts in economics from St. Olaf College. Hamel maintains a blog focused on massive open online courses and computer programming. Related Articles
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