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📈 Perfect Competition Explained | What is perfect competition and how does it work in economic markets? In this video, we break down everything you need to know about this hypothetical market structure. Watch this Video Next ➡️ • 4 Types of Economic Market Structures 📌 Topics Covered: ✅ Key characteristics (many sellers, identical products, no barriers to entry, etc.) ✅ Price takers ✅ Short-run vs long-run equilibrium Watch more Videos on Economics ➡️ • Economics and Economic History 👉Recommended reading: Basic Economics by Thomas Sowell ➡️ https://amzn.to/4lsvSuW ================================== I post daily accounting and finance quizzes / @patrickbraycpa ================================== 📢 Subscribe for more business & tax insights! 🚀 #PerfectCompetition #Economics #MarketStructures #Microeconomics #PriceTakers #SupplyAndDemand #EconomicTheory #Econ101 Some of the links are affiliate links where I earn a small commission from qualifying purchases. Disclosure Disclaimer: The information in this video is provided for general education purposes only and may not reflect changes in federal or state laws. This video is not intended to provide advice. Please consult with a professional advisor about your facts and circumstances.