Product standards, imperfect competition and completion of the market in the European Union

by Glenn W. Harrison

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• 16 Currently reading

Published 1994 by World Bank, International Economics Department, International Trade Division in Washington, D.C .
Written in English

Places:

• European Union countries.
Subjects:

• Production standards -- European Union countries.,
• Competition, Imperfect -- European Union countries.

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Edition Notes

Statement	by Glenn W. Harrison, Thomas F. Rutherford and David G. Tarr.
Series	Policy research working paper ;, 1293, Policy research working papers ;, 1293.
Contributions	Rutherford, Thomas Fox., Tarr, David G., World Bank. International Trade Division.
Classifications
LC Classifications	HG3881.5.W57 P63 no.1293
The Physical Object
Pagination	42, [50] p. :
Number of Pages	50
ID Numbers
Open Library	OL1226453M
LC Control Number	94227063
OCLC/WorldCa	30622944

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Essentially, the characteristics of an imperfect competition are what makes it imperfect. These characteristics are incredibly varied and range from one or more participants having enough power to set the price of a product to non-homogenous products across the market, resulting from different supplies or even businesses who simply have better or worse quality than their contemporary businesses.   Knowing the differences between perfect competition and imperfect competition can help you to identify the competition in the real world market. The first distinguishing point is that perfect competition is a hypothetical situation, which does not apply in the real world while imperfect Competition, is situation that is found in the present day world.

Imperfect Competition. The labor market model you just learned assumes a perfectly competitive market where there are many workers in the market and many employers in the market, and they each. competition laws, but none applied these commands in a manner that compelled domestic or foreign firms to take notice. To come ahead a quarter century to , the few jurisdictions with actively enforced competition laws included the European Union (EU), Germany, and the US. established the creation of a system safeguarding free competition in the common market as one of its goals. Article 3(3) of the Treaty on European Union (TEU) states that the EU "shall establish an internal market", based on "a highly competitive social market economy"1. The rules on competition in this market are contained in Articles.

Economic implications for Turkey of a customs union with the European Union Policy Research Working Paper Series, The World Bank View citations (10) See also Journal Article in European Economic Review () Chapter () Product standards, imperfect competition and completion of the market in the European Union.   Assumptions underlying the theory of imperfect competition. There are many buyers in the industry. An individual buyer, by his/her own actions, can’t influence the market price of the goods. There are many sellers in the industry. An individual seller can influence the quantity sold by the price it charges for its output. Product differentiation.   The first and most important thing about a market with imperfect competition is that it exists in reality. The standards for pure and perfect competition are impossible to ever meet. A perfectly competitive market has the following characteristics.