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Paraphin [41]
3 years ago
11

What is a pure market model

SAT
2 answers:
valentina_108 [34]3 years ago
6 0
It is a synonym for a purely competitive market (perfect competition). On this type of market the supply (of a homogenous good) is big, and the price is determined by the demand of this goods. Therefore, suppliers on this market are known as price takes. So the model shows supply, demand and therefore the price and quantity in equilibrium.
wlad13 [49]3 years ago
6 0
A pure market model is an economic system that relies on markets to allocate resources.
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