Respuesta :
The characteristics that describe pure competition are:
- Many sellers involved in the competition and none of them had the power to influence the price.
- Buyers also couldn't influence the price.
- It is fairly easy to come and compete in the market
- The commodities that offered in the market are similar in type and price.
- Many sellers involved in the competition and none of them had the power to influence the price.
- Buyers also couldn't influence the price.
- It is fairly easy to come and compete in the market
- The commodities that offered in the market are similar in type and price.
Pure competition describes a market where their is a wide range of competitors selling the same products. Since they are all competing and selling the same products, they are directly competiting with each other all of the time. Pure competition is also known as perfect competition because it makes the market a perfect and pure competition.
