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 |
|---|---|---|---|
| 08:30 | Producer & Import Prices | Mar | |
| 11:00 | Industrial Production | Feb | |
| 14:30 | Manufacturing Shipments | Feb | |
| 14:30 | Wholesale Sales | Feb | |
| 14:30 | Retail Sales | Mar | |
| 14:30 | NY Fed Empire State manufacturing index | Apr | |
| 16:00 | Business Inventories | Feb | |
| 16:00 | NAHB Housing Market Index | Apr | |
| 04:00 | Real GDP | 1 quarter |
