Question

Difference between pure competition and perfect competition market

Answer 1

Pure competition is pretty practical whereas Perfect competition is utterly unrealistic.

Pure competition has no element of monopoly enabling a producer to change more where Perfect competition has same element of monopoly.

Pure competition is less restrictive whereas Perfect competition is more restrictive.

Pure competition is a variants of perfect competition whereas Perfect competition is a additional version of pure competition.

Pure competition has no absence of transportation and communication cost whereas Perfect has absence of transportation and communication cost.

Pure competition is less sufficient whereas Perfect competition is more sufficient.