Economy, asked by Munrava, 4 days ago

discuss the basic competitive market model.

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Answered by sayantikapramanik06

5

Answer:

The basic Competitive Model in Economics deals with a free market economy where the firms motive is the maximisation of profit and the consumers are well-informed. It is a situation of perfect competition where the prices cannot be controlled by any single buyer or seller but is decided by the market conditions.

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