what do you mean by the pure competition nd perfect competition market nd what is the difference b/w the both explain wd n example????

The concept of the Pure Competition Market was initially suggested by Professor Chamberlin, who listed the following four main conditions to be necessary for Pure Competition Market structure.

1. Large number of buyers and sellers

2. Homogeneous product

3. Free entry and exit for firms

4. Independent decision making

A pure competition market differs from perfect competition in the sense that the conditions and features of the perfect competitions market are more stringent and strict than those of pure competition. It is the pure competition market that can be found in the real world.

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