ECO 365 Week 3 Learning Team Reflection Paper - Market Structure

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Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.

Prepare a 350- to 1,050- word paper detailing the findings of your discussion.

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Week 3 Reflection

This week, we learned about different conditions needed for perfect competition. According to Colander (2010) “These conditions are needed to ensure that the economic forces operate instantaneously and are unimpeded by political and social forces." Everything seems to be determined by the supply and demand market. The concept of supply and demand is becoming easier to understand each week as we are able to take each week and compare and relate the objectives to our personal experiences within our field.
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