today will start presentation for chapter 5 which is market structure..market structure is about classification system for the key traits of a market. today, the first group will present their presentation about perfect competition.
perfect competition is a market structure characterized by a large number of small firms, a homogenous product and very easy into or exit from the market. for examples tea boh and tea lipton. if at supermarker are not sale tea lipton, buyer can choose tea boh,, because both of the product is a subtitutes.