Title: What is Pure Competition? (with picture)
Headings: What is Pure Competition? (with picture)
What is Pure Competition? (with picture)
Malcolm Tatum
Malcolm Tatum
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Content: At the same time, consumers have little influence over the prices offered by the producers, since there is no singular group of consumers that dominates the demand. In reality, pure competition is more theory than actual fact. While there are rare situations in which a marketplace functions with pure competition for a short period of time, the situation normally shifts as various factors change the stalemate created by a multiplicity of sellers and buyers. This is often due to the somewhat stringent set of factors that must be present in order for the competition to be considered perfect or pure. There are several essential characteristics that define pure competition. One has to do with the balance of buyers to sellers. When there is an infinite number of buyers who are willing to purchase the products offered for sale by an infinite number of producers, at a certain price, the opportunity for anyone to take actions that shift the market price is extremely limited. The price remains more or less the same, and the same number of buyers purchase the products from the same range of producers. Is Amazon actually giving you the best price? This little known plugin reveals the answer.