Economics A-Level
Competitive markets
What Competitive markets means in Economics A-Level, as defined for AQA.
Definition of Competitive markets
Check what you remember
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Reference: AQA
A market structure assumed by the basic model, featuring many buyers and sellers acting independently.
Topics that use Competitive markets
- The determination of equilibrium market prices (AQA A-Level)
Related terms
- Ceteris paribus
- Disequilibrium
- Economic shocks
- Equilibrium
- Excess demand
- Excess supply
- Incentive function
- Market clearing
Using Competitive markets in the exam
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