Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...

There’s a moment every trader experiences—often early, sometimes after a string of losses—when they realize price alone isn’t ...

In micro-economic textbooks, the main factor assumed to affect the quality of a market is the number of sellers. A single seller, termed a monopolist, is the worst because that seller has maximum ...

Buyers and sellers meet and at the right price all products are sold Three little words. Often that is all it takes to make one’s heart beat faster. “Liberty, equality, fraternity” captured the French ...

Paul Blacklow is affiliated with Economic Society of Australia. This article is part of The Conversation’s “Business Basics” series where we ask experts to discuss key concepts in business, economics ...