Ask Question
Social StudiesSocial Studies
16 November, 13:28

What is the defining feature of pure competition?

+2
Answers (1)
  1. 16 November, 13:37
    0
    Pure competition is an ideal economic scenario in which there are a large number of independent sellers and consumers, and the given product is in ready supply. Sellers are unable to decrease the price of a product because it is so readily available from competitors, and consumers are unable to decrease it because there is such wide demand.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What is the defining feature of pure competition? ...” in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Type of democracy where citizens elect leaders to represent them and government
Answers (1)
You recelve a raise at work, and now earn more money. As a result, your demand for bus travel decreases. This shows that bus travel is a good
Answers (1)
Why did the Spanish and Portuguese bring black Africans to the Americas?
Answers (1)
What is the term for a government where power is concentrated?
Answers (1)
Given the choice between distorting the world in order to enhance their self-esteem or viewing the world accurately, people often:
Answers (1)
New Questions in Social Studies
If a borrower defaults on a loan, whose responsibility is it to get the money back? banks shareholders state government federal government
Answers (1)
A government in which people elect delegates to make laws
Answers (1)
What was the biggest reason the government of South Africa created a policy of apartheid?
Answers (1)
List the three phase of industrailization
Answers (1)
What is a NE monsoon and SW monsoon
Answers (1)
Home » Social Studies » What is the defining feature of pure competition?
Sign Up Forgot Password?