Goal

The purpose of this discussion is to review and understand the characteristics of perfectly competitive markets using real world examples.

There is no perfect example for perfectly competitive markets. However, we can find a few approximations.

1. Please first review the main characteristics of perfectly competitive markets.
2. Then give an example of a perfectly competitive firm. Explain how this firm meets each characteristic in these markets.
3. Are there any perfect examples for perfectly competitive markets?
4. Discuss why firms do not want to operate in perfectly competitive markets with your classmates. What are some ways to become a price maker, not a price taker?