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Simple English definitions for legal terms

perfect competition

Read a random definition: impeachment of verdict

A quick definition of perfect competition:

Perfect competition is a type of competition where there are many buyers and sellers in a market. In this type of competition, no one seller or buyer has control over the market. Everyone has to sell or buy at the same price. This means that there is no monopoly or oligopoly in the market. It is like a game where everyone has the same chance to win.

A more thorough explanation:

Definition: Perfect competition is a type of market structure where there are many small firms producing identical products and no single firm has control over the market. In perfect competition, all firms have equal access to resources and technology, and there are no barriers to entry or exit.

Examples: A good example of perfect competition is the market for agricultural products such as wheat or corn. There are many small farmers producing identical products, and no single farmer has control over the market. Another example is the market for stock trading, where there are many buyers and sellers of stocks, and no single trader has control over the market.

Explanation: In perfect competition, there are many small firms producing identical products, which means that consumers have many options to choose from. This competition keeps prices low and ensures that no single firm can charge a higher price than its competitors. Additionally, because there are no barriers to entry or exit, new firms can enter the market if they believe they can produce the product more efficiently or at a lower cost. This competition ensures that resources are allocated efficiently and that the market operates at maximum efficiency.

perfect attestation clause | perfect defense

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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