Syvian Tamez
July 26, 2015
Economics MICRO 2302
Discussion Essay: My View
What can I say? As soon as I got this discussion essay I felt like I was hopelessly lost and
confused in the topic. I was understanding but not understanding perfect competition. So many
characteristics, goods, and the list felt like it went on and on. What I had finally decided, is that I
would take it step by step and answer best to my knowledge.
Perfect Competition…. What is it? Perfect competition is one of the most basic market
structures. Wait stop? I had to take a minute and reread this sentence. I started to think when I
saw examples of perfect competition. It was agriculture examples mostly such as apples, bushels
of wheat, tomatoes, and oranges. So I thought about Walmart and walking through the super
market side. I made a bigger list that included avocadoes, pecans, mangos, strawberries and
bananas. As I started to understand the examples I moved on to Dr. Peeks notes to understand the
characteristics. It started with many firms and his examples were convenience stores, fast food
restaurants, and gas stations. I automatically thought about the flea market and farmers market.
Next was standardized product. Basically uniform quality, it all is different but basically the
same quality you will find in other stores or restaurants is pretty much the same. The price varies
as well, but stays in about the same range. This is the one that confused me, but got me thinking.
