|
PERFECT COMPETITION, REALISM: Perfect competition is an idealized market structure that does NOT exist in the real world. While some real world industries might come relatively close to one or two of the four key characteristics of perfect competition, none matches all four sufficiently that they can be declared PERFECTLY competitively. Some industries come close on the large number of small firms and the identical product characteristics. A few industries have relatively good, although not perfect, information about prices and technology. However, almost all industries fall far short of the perfect mobility characteristics.
Visit the GLOSS*arama
|
|

|
|
SOCIAL SCIENCE The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.
Complete Entry | Visit the WEB*pedia |


|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
This isn't me! What am I?
|
|
A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
|
|
"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
|
|
NBS Nash Bargaining Solution
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|