Perfectly Competitive Markets (Part II)

Mind Map by maddie.rapisardi, updated more than 1 year ago
Created by maddie.rapisardi over 6 years ago


Ideas and concepts based around perfectly competitive markets.

Resource summary

Perfectly Competitive Markets (Part II)
  1. Characteristics
    1. Consumers and Producers are price takers
      1. No Barriers to Entry/Exit
        1. No Externalities
          1. Excludable and Rivalrous
            1. Full Information
              1. Homogenous Goods
              2. Supply in Perfect Competition
                1. Demand in Perfect Competition
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