PERFECT COMPETITION
A market structure where the following five standards are met:
- All firms sell an same product;
- All firms are price takers - they cannot control the market price of their product;
- All firms have a relatively small market share;
- Buyers have complete information about the product being sold and the prices charged by each firm; and
- The industry is characterized by freedom of entry and exit.
- Perfect competition is sometimes referred to as "pure competition".
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Tertiary Industry Index | Apr | |
| 08:00 | Wholesale Price Index | May | |
| 08:30 | Producer & Import Prices | May | |
| 09:00 | SECO Consumer Confidence | May | |
| 10:00 | Trade Balance | Apr | |
| 11:00 | Current Account (sa) | Apr | |
| 11:00 | Industrial Production | Apr | |
| 14:15 | Housing Starts | May | |
| 14:30 | NY Fed Empire State manufacturing index | Jun |
