Study Presentations

Revision Presentation - Perfect Competition

Level:
A Level
Board:
AQA, Edexcel, OCR, IB

Last updated 22 Mar 2021

This is a revision presentation on the economics of perfectly competitive markets

Perfect Competition

What is Perfect Competition?

HALFPPP

  • Homogenous Products (all perfect substitutes)
  • All firms have access to factors of production
  • Large number of buyers & sellers
  • Free entry and exit to/from the market
  • Perfectly elastic demand curve
  • Perfect knowledge / information
  • Profit maximization assumed as key objective

© 2002-2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.