The EzyEducation website uses cookies to help ensure we give you the best experience.
If you continue without changing your settings, we assume that you are happy to receive all cookies on the EzyEducation website.
Please refer to our Privacy and Cookies Statement to

find out more.

Continue

This week we will introduce some changes. These relate to improved access to analytics for students and a teacher and student option to upload and access pdf files within units. Please report any issues [email protected]ucation.co.uk.

Economics Year 13 revision Day 6 - Perfect Competition

Economics Year 13 revision Day 6 - Perfect Competition

On day 6 of the Year 13 Recap we look at the theory of perfect competition and the welfare implications of it. 

The theory of perfect competition outlines the market conditions that need to hold for intense rivalry and competition to take place between firms in an industry.

It is a theoretical model because the conditions which are required for this structure to prevail are characteristics which cannot hold in the real world. However, this theoretical framework is a useful analytical and evaluative tool to use to compare across the outcomes and welfare implications of different market structures. 

Here Jacob guides you through the revision slide on the theory of perfect competition:

 

Business Studies Year 13 revision Day 6 - Porter's...
Countdown to Exams - Day 64 - Completing the squar...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, 29 July 2021
Forgot your password?