Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...

In micro-economic textbooks, the main factor assumed to affect the quality of a market is the number of sellers. A single seller, termed a monopolist, is the worst because that seller has maximum ...

Reviewed by Michael J BoyleFact checked by Suzanne KvilhaugReviewed by Michael J BoyleFact checked by Suzanne Kvilhaug A monopolistic market and a perfectly competitive market represent two market ...

In market economies, there are a variety of different market systems that exist, depending on the industry and the companies within that industry. It is important for small business owners to ...

A solid understanding of economics and finance can give small-business owners a leg up in managing their companies. Competition between different firms is a major topic in economics that is also of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...