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 |
|---|---|---|---|
| 02:30 | PMI Manufacturing | Nov | |
| 02:30 | Company Operating Profits | 3 quarter | |
| 02:30 | ANZ Jobs Advertisements | Nov | |
| 03:45 | Markit Final Manufacturing PMI | Nov | |
| 07:30 | Commodity Prices | Nov | |
| 09:30 | Retail Sales | Oct | |
| 10:15 | PMI Manufacturing | Nov | |
| 10:45 | PMI Manufacturing | Nov | |
| 10:50 | PMI Manufacturing | Nov |
