Perfect Competition Notes & Questions (A-Level, IB)

Related Exam Boards: GCE A-Level, IB (HL), Edexcel (A2), OCR, AQA, Eduqas, WJEC

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Under a market with Perfect Competition, it is assumed that there is perfect information, an unlimited number of buyers and sellers, no barriers to entry or exit, and all firms sell homogenous (the same) goods. However, this form of market structure is unlikely to exist in reality due to its extreme assumptions. Therefore, it is more theoretical than practical. A close example is the currency exchange market where the service provided by firms is highly similar.

Perfect Competition Revision Notes

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Perfect Competition MC Questions with answers (GCE A-Level)

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Perfect Competition Exam Questions (IB)

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