Foundations Of Senior Management

Marketing

Perfect markets

• There are many buyers and sellers so that no one individual can influence market price
• Producers and consumers have perfect knowledge of events in the market and act upon it.
• The product is homogeneous so that customers are indifferent between the produce of alternative suppliers
• Firms and customers act individually to maximise their position.
• There are no barriers to the movement of goods or factors of production.
• Benefits
• Problems

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