Perfect competition is a state of competition where there is interventions of anyone else and there will be a number of groups can freely inter and exit. .

The perfect competition is the situation of a market where companies lack the power to manipulate the price (price-acceptors), and there is a maximization of welfare. This results in an ideal situation in the markets for goods and services, where the interaction of supply and demand determines the price.

Thanks for original right visions... Perfect competition is like an electric current that gives maximum illumination ...

Perfect competition is point zero for monopolies and economic rent.

Not many - optimal - more effective+

The perfect competition is a fictitious market structure that meets a series of ideal conditions for it. In this way, neoclassical economists believed that perfect competition achieved the best results in the economy, benefiting consumers and society in general in the same way. Theoretically, the market would reach a balance between the quantity supplied and the demand for a product. This situation is known as the Pareto optimum, which is the "ideal" market equilibrium price that producers and consumers would sell and buy.

As I said at the beginning, perfect competition is a completely hypothetical structure that is impossible to achieve. However, there are markets that can meet some of the characteristics of a perfect competition market while breaking some of the basic principles. These we call markets of imperfect competition. Therefore, the first big difference between these markets is that the term "perfect" is theoretical, while the imperfect market is what we find in real life.