Perfect Competition

They have a few buyers and sellers but they sell similar products as other companies.

They still have competition.


poll question:

poll question and advantages with disadvatanges

Perfect competition example

https://m.youtube.com/watch?v=UpamrD82Ny0


Some of the disadvantages are that 1. Other companies can make similar products, 2. Free entry 3. Price is determined by demand and supply


Some of the advantages are 1. All the price of goods are equally shared, 2. There's no monopoly, 3. Don't need much advertising