Angeles University Foundation

Angeles City, Pampanga

Seatwork
In
ECONMIC

Submitted by:
Tanglao, Trisha Faye M.
MM3

Submiited to:
Estimada, Donna May

March 8, 2019
Pure competition is a term that describes a market that has a broad range of
competitors who are selling the same products. It is often referred to as perfect
competition. Here are some characteristics that define pure competition:

o In an ideal purely competitive market, the products being sold would be

identical, which removes the option of one seller offering something different
or better than another seller.

o Because there are so many competitors in the market offering the same
product at the same price, one competitor doesn't have an edge over the
others. Essentially, all the sellers are equal.

o New companies can easily enter the market.

o The price of products is determined solely by what consumers are willing to

pay.
References:

https://study.com/academy/lesson/pure-competition-definition-
characteristics-examples.html