DEFINITION OF

MARKET MODELS,
PURE
COMPETITION.
Dapiton, Angel Joy V.
Basic Macroeconomics
What is a Market?

A market is a place where

parties can gather to facilitate
the exchange of goods and
services. The parties
involved are usually buyers
and sellers.
What is a Definition
of Market Models?

The market model is used to

illustrate how the forces of
supply and demand interact
to determine prices and the
quantity that is sold.
What is the meaning of
pure competition?

a marketing situation in which

there are a large number of
sellers of a product which cannot
be differentiated and, thus, no
one firm has a significant
influence on price.
Thank you