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Perfect competition | Microeconomics | Khan Academy 

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Perfect competition, sometimes called pure competition, is a theoretical market structure in which there are many buyers and sellers selling homogeneous goods, no barriers to entry, and perfect information. In this video, explore the precise definition of perfect competition, and how these assumptions are captured on graphs.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
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26 авг 2024

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Комментарии : 50   
@enderzebak2863
@enderzebak2863 4 года назад
Not all heroes wear cape, you sir is helping me write my 2nd sem exam, i will be getting my degree because of you sir, thank you so much
@ariah5093
@ariah5093 2 года назад
lol same
@bambino1018
@bambino1018 2 года назад
I'm writing my first sem in a couple of hours😂
@enderzebak2863
@enderzebak2863 2 года назад
@@bambino1018 haha good luck man i just finished my last degree exam today 😅
@michaelpisciarino5348
@michaelpisciarino5348 5 лет назад
0:00 Characteristics of Perfect Competition 0:40 + Many Sellers/Buyers + Identical Products/Services (Idealized characteristics) + “Perfect Information” + No Barriers to Entry 2:58 Price vs Quantity Graph. Supply and Demand Curves 4:13 How would this Effect the firms decisions? 5:00 Marginal Cost (costs more and more to produce) 5:33 Average Total Cost 5:44 Marginal Revenue when firm is operating in Perfect Competition 6:37 Marginal Revenue curve. Firms are *price takers* 8:00 Do we want no barriers to entry?
@youreoffline4934
@youreoffline4934 3 года назад
Thanks
@urvaansaher7495
@urvaansaher7495 2 года назад
god bless u fr😭
@adityashiva910
@adityashiva910 2 года назад
♥️♥️
@kartikvines3912
@kartikvines3912 Год назад
@@urvaansaher7495 lp
@soniachakravarty4906
@soniachakravarty4906 11 месяцев назад
Thanks a ton. Sir, your video has been very helpful. God bless you.
@vancouvercanada9179
@vancouvercanada9179 Год назад
Currently taking Econ101 and this video is better than my professors
@tejas4110
@tejas4110 5 лет назад
Hey sal! Thnx so much for all you do man! I legit study physics everyday on khan academy..it helps me so much! Love from INDIA❤❤
@amyjade788
@amyjade788 3 месяца назад
why can't my lazy professor actually teach like you do. in other words... thank you for teaching this!
@KalebB-px1ey
@KalebB-px1ey 3 месяца назад
Yeah I get that, but at least we have Sal and Khan Academy!
@asmasakran5623
@asmasakran5623 5 лет назад
I know nothing about this subject, but I like to be the first one anyway
@shahdehab4626
@shahdehab4626 Год назад
كلمتان خفيفتان على اللسان ثقيلتان في الميزان حبيبتان إلى الرحمن سبحان الله وبحمده سبحان الله العظيم
@travisjoplin8479
@travisjoplin8479 5 лет назад
Thank you for helping me but make more videos like this
@shahdehab4626
@shahdehab4626 Год назад
1 - سبحان الله 2- الحمدلله 3- لا إله إلا الله 4- الله اكبر 5- لا حول ولا قوة إلا بالله 6- ربي اغفر لي 7- سبحان الله وبحمده 8- سبحان الله العظيم 9- اللهم نجني من عذابك يوم تبعث عبادك 10- اللهم صل وسلم على نبينا محمد.....
@SilverScarletSpider
@SilverScarletSpider Год назад
please add a playlist link in the description and pinned comments
@tilakbhati9828
@tilakbhati9828 5 лет назад
Sir which software or app you use for making videos please please tell me
@jueyadanarwin1213
@jueyadanarwin1213 4 года назад
Thank you so much
@shahdehab4626
@shahdehab4626 Год назад
لعل القارئ يصلى على النبى عليه الصلاة والسلام فيزيدنى درجة و يزداد درجات...
@sheenzara2248
@sheenzara2248 3 года назад
GOOD EXPLANATION 👍🏻
@db7366
@db7366 4 года назад
My direct question is Who introduced Perfect Competition? (This question has been asked 4 times in UGC NET till date)
@lifelonglearner1863
@lifelonglearner1863 4 года назад
Léon Walras
@user-fd6jx1pp5d
@user-fd6jx1pp5d 7 месяцев назад
A perfectly competitve firm
@youreoffline4934
@youreoffline4934 3 года назад
This person has an uncanny capability of drawing straight lines...
@alwaysanswer878
@alwaysanswer878 5 лет назад
Thanks for the great explanation!
@jaanshah9031
@jaanshah9031 3 года назад
Love this video, I understood it by jz watching it once
@kanizsultana9645
@kanizsultana9645 2 года назад
U make it easy
@kanizsultana9645
@kanizsultana9645 2 года назад
Thanks pls upload more
@RidwanMA
@RidwanMA 5 лет назад
Good job, great creation, thank you, sucses full, have a nice day
@rijadali4388
@rijadali4388 5 лет назад
Which software do you use to make these videos? Please give me answer
@salmasaged6244
@salmasaged6244 3 года назад
Waiting for a reply
@kanizsultana9645
@kanizsultana9645 2 года назад
Please please upload more
@octopusonmyback
@octopusonmyback Год назад
Average total cost is eqiual to marginal cost at the first item sold.
@sumanaggarwal5588
@sumanaggarwal5588 3 года назад
In 2021-22 there is only perfect compition topic left in the ch forms of market
@itsgracy8614
@itsgracy8614 3 года назад
How does perfect competition work in modern industry please tell
@16samAhm
@16samAhm 3 года назад
Is this for A2?
@lailawaleedelhusseiny1520
@lailawaleedelhusseiny1520 3 года назад
How can an aggressive advertising campaign impact sales for a firm in the perfectly competitive market?
@samuele8361
@samuele8361 7 месяцев назад
Advertisement is useless in this hypothetical scenario because the consumers have complete information.
@davidheatherly171
@davidheatherly171 5 лет назад
Great work As always. Dave16.⚡⚡⚡⚡⚡
@abdullmohsinlectures7753
@abdullmohsinlectures7753 5 лет назад
Learn chemistry conceptually from
@coldfinger459sub0
@coldfinger459sub0 5 лет назад
In some markets that are very technical and have to do an engineer in electricity and fire we need more barrier and proof of education and experience with Amazon and Cassie and coming back and double checking contractors work for the health and safety of the consumer or employee. I can tell you in my trade contractor the barriers in the bar for qualification are too low and the penalty or ripping off customer or injuring people are property are too low we need more strict regulation to protect The consumer
@ayushimajumder
@ayushimajumder Год назад
Ok
@MooShaka89
@MooShaka89 5 лет назад
I would disagree about your assessment of what a barrier is respectfully. A barrier more often than not is going to be some sort of government regulation or law that keeps people from entering that market. if somebody stops you from buying seeds or certain type of seeds or land then that is the barrier but if you're able to but unable to enter that market then that isn't a barrier that is just not being able to afford it because you can always have somebody financing.
@haughtywillow2499
@haughtywillow2499 3 года назад
Actually, that is a barrier to entry. Being able to not afford production costs is a barrier to entry. A barrier to entry is anything that prevents a firm from entering the market, as economists define it. If one firm can produce at costs so low that no other firms can, no one will buy from other firms and thus they are prevented from entering the market.
@Avtar0008
@Avtar0008 5 лет назад
Nyc
@AbrarShaikh2741
@AbrarShaikh2741 5 лет назад
Perfect example would be: Smartphones
@thorodinson7467
@thorodinson7467 4 года назад
no that is imperfect monopolistic competition
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