A perfectly competitive market is a market structure where there is no limitation or restriction on entry and exit of firms in the market. All potential firms can easily enter the market and all existing firms can easily exit.
There are a large number of sellers in the market that sell homogenous products. Because of free entry and exit, these firms face competition from potential entrants. Since there is a large number of firms, these firms are price takers.
A good relationship between a leader and his/her employees will boost up the confidence among them. Moreover, the communication gap which exist otherwise, will no longer be found.
Employees would be comfortable in giving feedback and would not lie for the sake of job, and they would even be able to share their problems with supervisors with less awkwardness.
Leaders support their employees and in turn they get genuine results from them, and this is scene in most of the cases.
