|
REALISM OF PERFECT COMPETITION: Perfect competition is an idealized market structure that does NOT exist in the real world. While some real world industries might come relatively close to a one or two of the four key characteristics of perfect competition, none matches all four sufficiently that we can declare a perfectly competitively industry. Some industries come close on the large number of small firms and the identical product characteristics. A few industries have relatively good, although not perfect, information about prices and technology. However, almost all industries fall far short of the perfect mobility characteristics.
Visit the GLOSS*arama
|
|
![](../images/bar_teal.jpg)
|
![](../images/bar_dkblue.jpg)
![](../images/bar_dkblue.jpg)
|
|
PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
This isn't me! What am I?
|
|
The word "fiscal" is derived from a Latin word meaning "moneybag."
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
JFE Journal of Financial Economics
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
![](../images/bar_ltblue.jpg)
|