6EC03 - Perfect Competition

Ebay is cited as an example of a market close to perfect competition, but how close is it? Read this excellent article by Tejvan Pettinger to get you exam prepared and consider EBay's competitors.

http://www.economicshelp.org/blog/2379/economics/ebay-and-perfect-competition/

Paj as always has a lovely short video explaining Perfect Competition here:

https://www.youtube.com/watch?v=7lhX78vlHSY

Exam Tip - always try to show the two diagrams market (industry) and firm alongside each other.