With most schools approaching their mid-year exams in both CIE and NCEA here is a mindmap which covers the main points when studying perfect competition. This can be a popular essay in CIE Paper 4 making a comparison with imperfect competition and NCEA AS 3.2 – 91400 Demonstrate understanding of the efficiency of different Market Structures using Marginal Analysis
For more on Perfect Competition view the key notes (accompanied by fully coloured diagrams/models) on elearneconomics that will assist students to understand concepts and terms for external examinations, assignments or topic tests.
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