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- Perfect_market abstract "In economics, a perfect market is defined by several conditions, collectively called perfect competition. Among these conditions are: Perfect market information No participant with market power to set prices Non intervention by governments No barriers to entry or exit Equal access to factors of production Profit maximization No externalitiesThe mathematical theory is called general equilibrium theory. On the assumption of Perfect Competition, and some technical assumptions about the shapes of supply and demand curves, it is possible to prove that a market will reach an equilibrium in which supply for every product or service, including labor, equals demand at the current price. This equilibrium will be a Pareto optimum, meaning that nobody can be made better off by exchange without making someone else worse off.Share and foreign exchange markets are commonly said to be the most similar to the perfect market. The real estate market is an example of a very imperfect market. Note that the conditions for Perfect Competition mean that a perfect market cannot be unregulated, since these preconditions for market function cannot at the same time be products of the market, yet must be provided somehow.Another characteristics of a Perfect Market is normal profits, just enough to induce enough participants to stay in the market to satisfy customer demand. The least efficient producer may have very small profits, and be unable, for example, to pay dividends to shareholders, while more efficient producers have larger profits.This attribute of perfect markets has profound political and economic implications, as many participants assume or are taught that the purpose of the market is to enable participants to maximize profits. It is not. The purpose of the market is to efficiently allocate resources and to maximize the welfare of consumers and producers alike. The market therefore regards excess profits, or economic rents, as a signal of inefficiency, that is of market failure, which is to say, not achieving a Pareto optimum.".
- Perfect_market wikiPageExternalLink Exhi_Perf_market_econ.asp.
- Perfect_market wikiPageID "11893252".
- Perfect_market wikiPageLength "3085".
- Perfect_market wikiPageOutDegree "16".
- Perfect_market wikiPageRevisionID "671781990".
- Perfect_market wikiPageWikiLink Barriers_to_entry.
- Perfect_market wikiPageWikiLink Barriers_to_exit.
- Perfect_market wikiPageWikiLink Category:Markets_(customer_bases).
- Perfect_market wikiPageWikiLink Economic_rent.
- Perfect_market wikiPageWikiLink Economics.
- Perfect_market wikiPageWikiLink Efficient-market_hypothesis.
- Perfect_market wikiPageWikiLink Externalities.
- Perfect_market wikiPageWikiLink Externality.
- Perfect_market wikiPageWikiLink Factors_of_production.
- Perfect_market wikiPageWikiLink General_equilibrium_theory.
- Perfect_market wikiPageWikiLink Market_failure.
- Perfect_market wikiPageWikiLink Market_power.
- Perfect_market wikiPageWikiLink Normal_profits.
- Perfect_market wikiPageWikiLink Pareto_efficiency.
- Perfect_market wikiPageWikiLink Pareto_optimum.
- Perfect_market wikiPageWikiLink Perfect_competition.
- Perfect_market wikiPageWikiLink Price_controls.
- Perfect_market wikiPageWikiLink Profit_(economics).
- Perfect_market wikiPageWikiLink Profit_maximization.
- Perfect_market wikiPageWikiLinkText "Perfect market".
- Perfect_market wikiPageWikiLinkText "optimality conditions".
- Perfect_market wikiPageWikiLinkText "perfect market".
- Perfect_market hasPhotoCollection Perfect_market.
- Perfect_market wikiPageUsesTemplate Template:Citation_needed.
- Perfect_market wikiPageUsesTemplate Template:Economics_sidebar.
- Perfect_market wikiPageUsesTemplate Template:Economy-stub.
- Perfect_market wikiPageUsesTemplate Template:Merge_to.
- Perfect_market subject Category:Markets_(customer_bases).
- Perfect_market type Article.
- Perfect_market type Article.
- Perfect_market comment "In economics, a perfect market is defined by several conditions, collectively called perfect competition. Among these conditions are: Perfect market information No participant with market power to set prices Non intervention by governments No barriers to entry or exit Equal access to factors of production Profit maximization No externalitiesThe mathematical theory is called general equilibrium theory.".
- Perfect_market label "Perfect market".
- Perfect_market sameAs سوق_مثالية.
- Perfect_market sameAs Dokonalý_trh.
- Perfect_market sameAs Vollkommener_Markt.
- Perfect_market sameAs m.02rx229.
- Perfect_market sameAs Q3497783.
- Perfect_market sameAs Q3497783.
- Perfect_market wasDerivedFrom Perfect_market?oldid=671781990.
- Perfect_market isPrimaryTopicOf Perfect_market.