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Perfect competition assumes that there are many buyers, many sellers, and identical products. Market forces drive supply and demand, and every company has equal market share. It is purely theoretical. With imperfect competition, at least one element of perfect competition is missing.

Perfect competition occurs when there are many sellers, there is easy entry and exiting of firms, products are identical from one seller to another, and sellers are price takers.

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perfect competition means that all businesses within the market are similar when it comes to product and price main difference being the brand. Imperfect competition is where products in the market differ much examples of this could be how it’s made what it’s made from and what it does.

An example of a perfect competition market would be the sugar market. This is because all sugar is pretty much the same and a company can’t really have a unique selling point to there product.

An example of imperfect competition market could be the phone market however they are all phones, they are different when it comes to quality materials and software.

The fast-food market in some ways can be perfect, this is because all fast-food sell many similar goods like burger kinda and McDonalds for example. However the market could also be imperfect and this come down to quality what the fast food mainly sells and style of the restaurant.

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Market with perfect competition is where the products are really similar and they don’t really have massive differences.

Whereas imperfect markets are where the products are the same but there are large differences customers may be more drawn to one because they have a feature the other doesn’t.

Market with near perfect competition:

Farmers grow almost the same thing so they sell really similar products like eggs and meat.

Market with imperfect competition:

The airline sector is the fact that the aircraft’s are expensive so not many people enter the market since you need to have the money.

Fast food markets are perfect markets since they offer similar products and it is easier to enter the market.

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Perfect competition is when the products and pricing within the market are generally the same. Imperfect competition is the opposite.

Egg market- only difference is free range eggs.

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1-  Perfect would have similar prices and no barriers to entry and the imperfect will have different prices and quality.

2-  Flour and sugar as the product can’t be changed to add value to it.

3-  For example energy drinks are different flavour which means they are different prices depending on which one the customers buy.

4- Imperfect competition as it would be harder to enter with bigger competitors making it harder to enter

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Perfect markets have little to no difference in quality or price, imperfect have a various range of qualities and prices.

Agriculture is a near perfect market because the producers cannot really change the selling price of their crops or produce

The airline sector has an imperfect competition because there are various different airlines that have varying quality and price

Imperfect because fast food places have unique selling points and options that make people want to visit them e.g Big Mac.

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1. Perfect competition is a market that offers the same products at the same prices with no barriers to entry, while imperfect competition is a competitive market that sells products that are different in terms of what they sell or prices of the products

2. The agricultural market has near perfect competition as the same crops are grown by different farmers, making the products very similar

3. The airline market have imperfect competition as there is a high barrier to entry because of the few airlines there are to choose from and the large difference in costs they have

4. I think the fast food industry has imperfect competition as they have different USPs despite selling similar products, for example the Big Mac is trademarked to McDonalds and the Whopper is trademarked to Burger King

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perfect competition are different companies that offer the same product or service at the same prices. imperfect competition is different companies that offer the same or similar products and services but they are sold at different prices.

A farmers market that sells the same type of jam is near perfect competition because the jam will most likely be sold at the same price.

The electric market for houses is imperfect as all though the electricity is always the same, the prices will always be different for various reasons.

The fast food market is imperfect because they may all offer burgers but they’ll be different prices because of different factors

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perfect competition is where a business and their competitors sell similar products for the same price.

imperfect competition is where a business and their competitors sell products for different prices

1. prices are the same meaning customers won’t switch stores as they’re the same price however you’re not able to attract competitors customers

2. the agricultural industry (farmers market) farmers sell their products e.g. eggs, milk, veg at similar prices

3. the airline sector, some airlines are cheaper than others with different prices.

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Perfect competition is market structure where we have many sellers and buyers and no market power whereas imperfect competition means fewer competitors differentiated products and have ability to influence market prices.

Perfect competition means farmers many supermarkets buy eggs so no market power which means don't impact the prices.

Imperfect competition means the business which different products like their own branded products such as clothes influence the prices.

Fast food is imperfect because the market may be operating with higher or lower prices which influence fast food business.

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In perfect competition, identical products are sold, prices are set by supply and demand, market share is spread to all firms, buyers have complete information about products and prices.Imperfect competition occurs when at least one condition of a perfect market is not met.

example of market w near perfect competition- farmers selling the same jam

imperfect competition market-the airline industry

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1. Perfect competition is similiar/identical items being sold at similiar prices, while the opposite, imperfect competition, instead has similiar items at varying prices.

2. A perfect competition example would be a farmers market, where foods of similiar origin are priced similiarly to others.

3. Airlines are very imperfect competitors, as different airlines offer different services during flight.

4. Imperfect, as a burger frrom 2 different restaraunts are sold at different prices based on how they are cooked and their source.

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1 - Perfect competition is where the products are very similar and have the same prices also they usually have no usp. Whereas imperfect competition products sold in each sectors have very different products, usually a wide variety of them and I is difficult to get into that type of market.

2 - Perfect competition is usually essential items like eggs, bread, water and vegetables. A common business would be a farmer market which all have a very similar target audience.

3 - A market which is well known for its imperfect competition would be snacks and treats like Mcvitties.

4 - McDonalds is Monopolistic competition which is a type of imperfect competition because they sell different food like burgers and wraps plus they have different marketing strategies, recipes and prices than their competitors.

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A market with perfect competition is pizza because there is not much difference between the brands as they all make and sell the same product whereas for example shampoo companies have lots of difference between the companies meaning the competition is greater.

A market with near perfect competition is the agricultural market as the sellers have no ability to alter their prices meaning they will never increase, leaving them having a stable income.

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Perfect competition is where the products are similar in taste, look, and when making food (e.g. flour, butter, eggs, fruit/veg etc.) this also covers price and quantity.

Imperfect competition is where the products aren’t similar in taste. They may look different (e.g. colour) cheese could be an example of this because you can get blue cheese, red cheese, blue cheese etc. This also means price will be different due to the quality and size differences of them.

Water companies are a good example of “perfect competition” because they all produce water which comes from relatively the same place.

Supermarkets such as Lidl and Tesco are a good example of “imperfect competition” because it isn’t the only supermarket in the UK. Tesco also has a different market structures compared to other supermarkets in the UK.

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Perfect competition is when a market has many buyers and seller with similar products and no market power to influence the prices whereas imperfect competition is a market where more products are niche and unique with fewer competitors with the ability to influence the market prices

An example of a market with near perfect competition would be the water market as all brands are similar and has many competitors with little influence in the market

An example of a market with imperfect competition would be the entertainment industry as their are fewer competitors with many different version of entertainment and certain brands have a larger impact on how the market acts

The fast food market would have imperfect competition as their are many different products offered by different brands and their are clear market leaders who have a larger impact on the market

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Imperfect competition is where a market is full of companies and products that are completely unique or fulfill a specific need

The difference between a perfect market and an imperfect market is that one can lead to rapid expansion of a product and another can lead to business failure as the market is too hard to get into or grow in

Fizzy drinks are a imperfect market as every drink is unique or original making it hard to get into

Fast food market is perfect because each food type has set recipes where it doesn’t matter where you order from as the product is the same making it a market easy to get into

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1. Perfect competition allows free entry and exit of firms which means businesses may find it difficult to maintain a large customer base as their competitors are offering the same products for the same price. However, imperfect competition often has barriers to enter or exit as the company’s have market power and have more difference within the products and services they offer and vary with price and quality.

2. Agricultural industry as there are many small producers so the prices are similar and the products are the same.

3. Monopoly as one firm serves the entire market and therefore it makes it very difficult to enter the market.

4. Imperfect as the market is a monopoly so it is hard to enter as there are many other competitors who have a high control over the market.

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Perfect competition is businesses within the same market that sell similar products for similar prices. Imperfect competition is when products in the same market are vastly different.

Farmers markets- fruit and veg all come from the ground but farmers charge different prices

Phones- Samsung v Apple

Perfect competition

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1- The perfect competition means that they offer the same price of that specific product and imperfect competition means they sell diffrent product and service from diffrent brand.

2- Aldi and Lidl is the offer the same price and products for example a bag of salad.

3- Imperfect competition for example the airline of diffrent companies.

4-fast food such as Mcdonald and burgerking they offer the same product and maybe price and imperfect fast food is KFC and Subway

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Perfect competition- consumers have access to the same products and information, all companies sell the same or similar but different branded products e.g Farmers market.

Imperfect competition- includes market structure with fewer sellers, different products e.g Airline industry.

Fast food market is imperfect competition also knows as monopoly which only consists of one seller or producer

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1. what is the key difference between a market qoth perfevr competitions against imperfect competition because of the customers have limited or no knowledge of the product and find it difficult to evaluate their choice etc.

2. What is the explain for the perfect competitions - farmer markets where each vendor sells the same type of mostly - e.g Milk

3. what about the example o lad the imperfect competition for that why is the most on type in price and cost used seller to continue keep price hight and expenses include VAT.

4. The fast food on the research is both perfect and imperfect competition the why is teh cannot be perfect matched on food any because of the basic food very same offer product from Big Mac and Whopper