Perfectly Competitive Markets (Part II)

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

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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