INTRODUCTION:

PERFECT COMPETITION:
Perfect competition is a market share in which all firms sell an identical
product, all firms are price takers , they cannot control the market price of
their products, firms have a relatively small market share.

CHARACTERISTICS OF PERFECT COMPETITION:

1) There are large numbers of buyers and sellers in the market.
2) Perfect knowledge of the product is another characteristic which says
all the buyers and sellers have complete knowledge about the
products.
3) Free entry and exit: firms are free to move in and out from the industry
without any kind of barriers.
4) The products are homogenous: all the firms in the market.
5) There are no costs associated with transportation.
6) Selling firms are profit maximizing entrepreneurial firms.
7)

Problem Statement:
Does perfect competition exist? Give a evidence from Pakistan.
Objectives of Research:

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establish
describe
determine
estimate
develop
compare
analyze
collect