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Pure Competition

Pure competition is a term used to describe a market structure where there are many buyers and sellers, and no single buyer or seller has the ability to control the price. This creates a level playing field where prices are determined by supply and demand, and where companies must compete on factors such as quality, price, and customer service in order to attract and retain customers. Continue Reading Below

    Related Topics

    • Monopolistic Competition
    • Monopoly
    • Monopsony
    • Oligopoly
    • Specific Types of Market Systems