Perfectly Competitive Industry
2 pages, APA Format, 2 references
analyze an article published within 60 days prior to the term that deals with a perfectly competitive industry
Analyze the factors driving change in the industry. Are there potential changes due to globalization or technology that might alter this industry? And if so, what are they?
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Perfectly Competitive Industry
A perfectly competitive industry is one where there is perfect competition between the major players within the market. In such a market, the number of buyers and sellers is so large and informed that some of the elements that are associated with a monopoly market cannot exist (Machovec, 2013). Such an attribute also ensures that none of the players in the market can influence the prices of the products and services that are available. There are several examples of industries in the world today that exemplify some of the attributes that are associated with perfect competition. An article that I identified for this essay that was published sixty days prior to this term is titled The Corporate World Has Its Own Inequality Problem and was published on the Bloomberg Business Week website on May 9th, 2019 by Peter Coy.
(625 words)