IntroductionWhat would the perfectly competition market look like? Why do so many economists love the idea of competition? What problems occur when companies become to powerful? And why do they become so dominant in the first place? How do we model a market in which different people are charged different prices?
Remember you have a studyguide with all the IB aims, some past papers, and extra tips to help you along. Find it in google classroom
Do you see any problems with any of these assumption? Do they limit the conclusions in anyway? Does the principle of competition hold stronger than any limitations of the model? Do you see any of our ideas and conversations happening in real life?
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