Perfect competition
id:
perfect-competition-181-6571996
title:
Perfect competition
text:
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach an equilibrium in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price. This equilibrium w
brand slug:
wiki
category slug:
encyclopedia
description:
Market structure in which firms are price takers for a homogeneous product
original url:
https://en.wikipedia.org/wiki/Perfect_competition
date created:
2001-03-11T20:23:07Z
date modified:
2024-09-06T08:15:09Z
main entity:
{"identifier":"Q183384","url":"https://www.wikidata.org/entity/Q183384"}
image:
fields total:
13
integrity:
15