Congress names PCC chiefs for Seemandhra, Telangana Congress tonight appointed separate PCC chiefs for Seemandhra and Telangana.CBI raids NSEL offices Financial Tech, MCX tank: Is the rally in these two stocks over? The raids are in connection to a case of alleged irregularities in investments by state-run trading company PEC, causing a loss of Rs 120 crore.CBI registers case against NSEL, Jignesh Shah CBI today carried out search at multiple locations, including the presmises of NSEL promoter Jignesh Shah.CBI questions NSEL promoter Jignesh Shah CBI today resumed questioning of NSEL promoter Jignesh Shah in connection with a case registered against him.Amid Ukraine muddle, global prices for wheat surge 3% to $290-300 a tonne Russia’s standoff with the West over Ukraine and the threat of sanctions by the US seem to have come as a boon for Indian wheat traders.Punjab's universities eye collaboration with Birmingham varsity A number of leading universities from Punjab are interested in making collaborations with the UK's prestigious University of Birmingham.Per capita energy consumption fell 0.6% in FY14 Between 2005-14, PEC rose 4.53% annually, showing a rising energy demand in a country that grew at a rapid pace in most of these years. No industry exhibits perfect competition in India. However, perfect competition is used as a base to compare with other forms of market structure. No firm can influence the price of the product.ĭescription: Ideally, perfect competition is a hypothetical situation which cannot possibly exist in a market. It takes the price as decided by the forces of demand and supply. Each firm earns normal profits and no firms can earn super-normal profits.ġ0. labour, capital, etc, have perfect mobility in the market and are not hindered by any market factors or market forces.ĩ. Consumers indulge in rational decision making.Ħ. Consumers have perfect knowledge about the market and are well aware of any changes in the market. Homogenous product is produced by every firmĥ. To make it more clear, a market which exhibits the following characteristics in its structure is said to show perfect competition:Ģ. Definition: Perfect competition describes a market structure where competition is at its greatest possible level.
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