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what is hyperledger fabric
hyperledger fabric is a modular blockchain framework that acts as a foundation for developing blockchain based products solutions and applications using plug and play components that are aimed for use within private enterprises hyperledger fabric was initiated by digital asset and ibm and has now emerged as a collabora...
how hyperledger fabric works
traditional blockchain networks can t support private transactions and confidential contracts that are of utmost importance for businesses hyperledger fabric was designed in response to this as a modular scalable and secure foundation for offering industrial blockchain solutions hyperledger fabric is the open source en...
what is hyperledger iroha
hyperledger iroha is a blockchain platform designed to be easily integrable in various business uses that require distributed ledger technology for example the platform can be used to help companies and governments with identity management such as national ids and the financial services sector with bank to bank transfe...
how many types of hyperledger are there
there are five types of hyperledger blockchain technologies
what is hyperledger sawtooth
hyperledger sawtooth is an open source project under the hyperledger umbrella and works as an enterprise level blockchain system used for creating and operating distributed ledger applications and networks particularly for use by enterprises understanding hyperledger sawtoothdeveloped by the linux foundation in collabo...
how hyperledger sawtooth works
sawtooth enables selective permissions that is one can easily deploy certain select clusters of sawtooth nodes with different permissions on the same blockchain the ledger stores the necessary details about the permissions nodes and identities the operating performance of the sawtooth network is boosted by the mechanis...
what is a hypermarket
a hypermarket is a retail store that combines a department store and a grocery supermarket often a very large establishment hypermarkets offer a wide variety of products such as appliances clothing and groceries hypermarkets offer shoppers a one stop shopping experience the idea behind this big box store is to provide ...
what is hypertext markup language html
hypertext markup language html is the set of markup symbols or codes inserted into a file intended for display on the internet the markup tells web browsers how to display a webpage s words and images each individual piece markup code which would fall between and characters is referred to as an element though many peop...
what does html stand for
html stands for hypertext markup language who invented html in 1980 british scientist tim berners lee proposed and made a prototype of a system for researchers at cern where he worked to use and share documents in 1989 berners lee authored a memo that proposed an internet based hypertext system he specified html and wr...
how can html be used
uses for html include
what does the future hold for html
the fifth and final major version of hypertext markup language is html5 released in 2008 the current specification is known as the html living standard future developments for html5 the html living standard are thought to include the bottom linehypertext markup language or html is a set of markup symbols or codes inser...
what is hypothecation
hypothecation occurs when an asset is pledged as collateral to secure a loan the owner of the asset does not give up title possession or ownership rights such as income generated by the asset however the lender can seize the asset if the terms of the agreement are not met hypothecation is different from a mortgage lien...
when banks and brokers use hypothecated collateral as collateral to back their own transactions and trades with their client s agreement in order to secure a lower cost of borrowing or a rebate on fees this is called rehypothecation for example the lender may use an apartment building offered as collateral for a commer...
rehypothecation is regulated by the securities and exchange commission banks and lenders must have permission from the owner of the property or assets to do this rehypothecation by banks and financial institutions is a less common practice today due to the adverse impact this practice had during the financial crisis of...
how do hypothecation and a mortgage differ
hypothecation is the pledging of an asset as collateral for a loan without transferring the property s title to the lender in a mortgage the property purchased is used to secure the loan but the lender holds the title
is assignment the same as hypothecation
assignment is an arrangement involving contracts in which one party assigns rights and responsibilities outlined in a contract to another party hypothecation allows a borrower to hold onto a property while using it as security for a loan
what is hypothecation vs a lien
with hypothecation the borrower is allowed to hold the property used as collateral for the loan the borrower agrees to repay the loan on the condition that if they don t the lender can claim the property a lien however requires a property owner to satisfy outstanding debts before an underlying property can be refinance...
what is an example of hypothecation
an example of hypothecation would be an investor who takes out a mortgage loan to purchase an investment property the property serves as collateral for the loan meanwhile the investor collects the rental income derived from it but if the investor defaults the lender can initiate a foreclosure proceeding to take ownersh...
what is hypothesis testing
hypothesis testing sometimes called significance testing is an act in statistics whereby an analyst tests an assumption regarding a population parameter the methodology employed by the analyst depends on the nature of the data used and the reason for the analysis hypothesis testing is used to assess the plausibility of...
how hypothesis testing works
in hypothesis testing an analyst tests a statistical sample intending to provide evidence on the plausibility of the null hypothesis statistical analysts measure and examine a random sample of the population being analyzed all analysts use a random population sample to test two different hypotheses the null hypothesis ...
when did hypothesis testing begin
some statisticians attribute the first hypothesis tests to satirical writer john arbuthnot in 1710 who studied male and female births in england after observing that in nearly every year male births exceeded female births by a slight proportion arbuthnot calculated that the probability of this happening by chance was s...
what are the benefits of hypothesis testing
hypothesis testing helps assess the accuracy of new ideas or theories by testing them against data this allows researchers to determine whether the evidence supports their hypothesis helping to avoid false claims and conclusions hypothesis testing also provides a framework for decision making based on data rather than ...
what are the limitations of hypothesis testing
hypothesis testing relies exclusively on data and doesn t provide a comprehensive understanding of the subject being studied additionally the accuracy of the results depends on the quality of the available data and the statistical methods used inaccurate data or inappropriate hypothesis formulation may lead to incorrec...
what is hysteresis
hysteresis in the field of economics refers to an event in the economy that persists even after the factors that led to that event have been removed or otherwise run their course hysteresis often occurs following extreme or prolonged economic events such as an economic crash or recession after a recession for example t...
when the economy re enters an expansionary phase it is expected that businesses would start re hiring the unemployed and that the economy s unemployment rate would start declining towards its normal or natural unemployment rate until cyclical unemployment becomes zero this is the ideal scenario of course however hyster...
hysteresis states that as unemployment increases more people adjust to a lower standard of living as they become accustomed to the lower standard of living people may not be as motivated to achieve the previously desired higher living standard also as more people become unemployed it becomes more socially acceptable to...
how to prevent hysteresis
economies that are experiencing a recession and hysteresis in which the natural rate of unemployment is rising usually employ economic stimulus to combat the resulting cyclical unemployment expansionary monetary policies by central banks such as the federal reserve can include lowering interest rates so as to make loan...
what are the types of hysteresis relevant to financial markets
hysteresis in financial markets takes various forms including credit market hysteresis investor sentiment towards inflation or manufacturing output can hysteresis be mitigated through structural reforms preemptive structural reforms involve anticipating potential sources of hysteresis and implementing changes to enhanc...
what are the long term consequences of banking sector hysteresis
the banking sector s hysteresis arising from financial crises can lead to persistent cautious lending practices even after the crisis abates this ongoing prudence in lending may contribute to a prolonged credit squeeze making it tough for consumers and businesses to get loans
what role does public debt hysteresis play in fiscal sustainability
public debt hysteresis occurs when high levels of public debt limit a government s fiscal flexibility the need to service debt may lead to prolonged periods of hysteresis as the government may not have the ability to spend in other critical areas in the future the bottom linehysteresis in the context of finance refers ...
what is an iceberg order
iceberg orders are large single orders that have been divided into smaller limit orders usually through the use of an automated program for the purpose of hiding the actual order quantity the term iceberg comes from the fact that the visible lots are just the tip of the iceberg given the greater number of limit orders ...
what is the ichimoku cloud
the ichimoku cloud is a collection of technical indicators that show support and resistance levels as well as momentum and trend direction it does this by taking multiple averages and plotting them on a chart it also uses these figures to compute a cloud that attempts to forecast where the price may find support or res...
how to calculate the ichimoku cloud
the highs and lows are the highest and lowest prices seen during the period for example the highest and lowest prices seen over the last nine days in the case of the conversion line adding the ichimoku cloud indicator to your chart will do the calculations for you but if you want to calculate it by hand here are the st...
what does the ichimoku cloud tell you
the technical indicator shows relevant information at a glance by using averages the overall trend is up when the price is above the cloud down when the price is below the cloud and trendless or transitioning when the price is in the cloud
when leading span a is rising and above leading span b this helps to confirm the uptrend and the space between the lines is typically colored green when leading span a is falling and below leading span b this helps confirm the downtrend the space between the lines is typically colored red in this case
traders will often use the ichimoku cloud as an area of support and resistance depending on the relative location of the price the cloud provides support resistance levels that can be projected into the future this sets the ichimoku cloud apart from many other technical indicators that only provide support and resistan...
what does ichimoku mean in english
in japanese ichimoku translates to one look referring to the fact that support and resistance levels can be gauged in just a glance
what are the tenkan sen and kijun sen
the japanese terminology for the moving average lines used in the ichimoku cloud are called the tenkan and kijun sen
what are the senkou spans used in ichimoku clouds
the senkou spans form the cloud of the ichimoku cloud
what is the chikou span in ichimoku clouds
the chikou span is meant to measure market sentiment using the most recent closing price and plotted 26 periods behind the price action the bottom linein order to create a cloud to show where prices may find future resistance or support the ichimoku cloud plots multiple averages on a chart this shows not only support a...
what is the ichimoku kinko hyo
the ichimoku kinko hyo or ichimoku for short is a technical indicator that is used to gauge momentum along with future areas of support and resistance the all in one technical indicator is comprised of five lines called the tenkan sen kijun sen senkou span a senkou span b and chikou span understanding ichimoku kinko hy...
what is icon icx
icon is a platform that is intended to facilitate the interactions of independent blockchains also referred to as communities within the icon platform a community is defined as a network of nodes that follow a single governance system a node is a computer that connects to a cryptocurrency network cryptocurrency network...
what is ideation
ideation refers to the process of developing and conveying prescriptive ideas to others typically in a business setting it describes the sequence of thoughts from the original concept to implementation ideations can spring forth from past or present knowledge external influences opinions convictions or principles ideat...
how ideation works
simply put ideation is the literal action of forming ideas from their conception to real world application and implementation ideas and the act of ideating can come from anyone tangentially or directly associated with a business or organization including low level employees managers customers partners and stakeholders ...
what is an identifiable asset
an identifiable asset is an asset whose commercial or fair value can be measured at a given point in time and which is expected to provide a future benefit to the company these assets are an important consideration in the context of mergers and acquisitions because not all assets on a company s balance sheet are able t...
when one company seeks to take over another the acquiring company can assign a fair value to the identifiable assets that can be reasonably expected to provide a benefit to the purchasing company in the future identifiable assets can be both tangible and intangible assets identifiable assets are quite important in valu...
if an asset is deemed to be identifiable the purchasing company records it as part of its assets on its balance sheet identifiable assets consist of anything that can be separated from the business and disposed of such as machinery vehicles buildings or other equipment if an asset is not deemed to be an identifiable as...
how identifiable assets are used
for example suppose a conglomerate company purchases both a smaller manufacturing firm and a smaller start up internet marketing company the manufacturing company would likely have most of its value tied up in property equipment inventory and other physical assets so virtually all of its assets would be identifiable th...
what is identity theft
identity theft is the crime of using the personal or financial information of another person to commit fraud such as making unauthorized transactions or purchases identity theft is committed in many different ways and its victims are typically left with damage to their credit finances and reputation understanding ident...
what do you do if someone has stolen your identity
the first step to take is to report the theft to the federal trade commission ftc at identitytheft gov you can also call them at 1 877 438 4338 then you can freeze your credit reports file a police report and change your login and password information for all sensitive accounts it would also be wise to close your curre...
what are the first signs of identity theft
some early signs of identity theft are unfamiliar charges on your credit card or debit card statements new cards that you did not apply for incorrect items on your credit report medical bills for doctor s visits that you did not have and collection notices for purchases that you did not make
what are three types of identity theft
three common types of identity theft are medical identity theft financial identity theft and child identity theft the bottom lineidentity theft is a traumatic and difficult experience and can severely damage your creditworthiness it can leave you with bills that you did not incur and cannot pay it s important to monito...
what is idiosyncratic risk
idiosyncratic risk is a type of investment risk that is endemic to an individual asset like a particular company s stock a group of assets like a particular sector or in some cases a very specific asset class like collateralized mortgage obligations idiosyncratic risk is also referred to as a specific risk or unsystema...
what is idle time
idle time is paid time that an employee or machine is unproductive due to factors that can either be controlled or uncontrolled by management it normally applies to full time workers rather than consultants who typically have to bill for every hour of their time understanding idle timeidle time is a period of time asso...
when employees are not engaged in productive activities it can have serious implications for employers according to a 2018 study from the harvard business school 78 1 of workers find themselves on a weekly basis with involuntary idle time which costs employers an estimated 100 billion per year 1
types of idle timeidle time can be classified either as normal or abnormal normal idle time is categorized as downtime for regular maintenance and repair regularly scheduled downtime for manufacturing assets is a normal business practice and cannot be controlled by management abnormal idle time such as a worker strike ...
what is illiquid
illiquid refers to the state of a stock bond or other assets that cannot easily and readily be sold or exchanged for cash without a substantial loss in value illiquid assets may be hard to sell quickly because there is low trading activity or interest in the issue indicated by a lack of ready and willing investors or s...
what is immediate family
the term immediate family commonly applies to an individual s closest family members however the term has legal meanings for government or company policies how the term is defined can affect whether a person can use paid or unpaid leave to care for a sick family member attend a funeral or access financial resources cri...
how does immediate family differ from extended family
in contrast to the immediate family the extended family is a network of individuals with blood or legal ties this can include aunts uncles cousins grandparents grandchildren and married spouses in some cases extended family may exercise some rights if the immediate family cannot if a child loses one parent the grandpar...
what counts as immediate family for asylum claims
people with asylum or refugee status may petition for members of their immediate family to be given green card status under u s law immediate family only includes the spouse parent or child of the person making the application a child is considered younger than age 21 and unmarried the bottom lineimmediate family is a ...
what is an ioc
an immediate or cancel order ioc is an order to buy or sell a security that will execute all or part immediately and then cancel any unfilled portion of the order an ioc order is one of several duration or time in force orders that investors can use to specify how long the order remains active in the market and under w...
how ioc works
investors can submit either a limit or market immediate or cancel order ioc depending on their specific execution requirements an ioc limit order is entered at a particular price whereas an ioc market order has no price attached and transacts with the best offer price for a buy and the best bid price for a sell ioc ord...
when to use an ioc order
investors typically use ioc orders when submitting a large order to avoid having it filled at varying prices an ioc order automatically cancels any part of the order that doesn t fill immediately assume a trader places an ioc order to purchase 5 000 shares of international business machines corporation ibm any portion ...
what are the benefits of using ioc
ioc limit orders protect against getting a bad fill in a fast moving or illiquid market on the other hand ioc market orders ensure a complete or partial execution in a strongly trending stock with heavy buying demand
how does ioc affect market or limit orders
a market order is an order to buy or sell a stock at the best available price and will be executed immediately a limit order is an order to buy or sell a stock at a certain price or better market and limit orders may include timing restrictions and other trading instructions like ioc
what does time in force mean for market traders
traders use time in force instructions when placing a trade to indicate how long an order will remain active before it is executed or expires the bottom linean immediate or cancel order ioc is an order to buy or sell a security that will execute all or part immediately and then cancel any unfilled portion of the order ...
what is an immediate payment annuity
an immediate payment annuity is a contract between an individual and an insurance company that pays the owner or annuitant a guaranteed income starting almost immediately it differs from a deferred annuity which begins payments at a future date chosen by the annuity owner an immediate payment annuity is also known as a...
how an immediate payment annuity works
individuals typically buy immediate payment annuities by paying an insurance company a lump sum of money the insurance company in turn promises to pay the annuitant a regular income according to the terms of the contract the amount of those payments is calculated by the insurer based on such factors as the annuitant s ...
what is immunization
immunization also known as multi period immunization is a risk mitigation strategy that matches the duration of assets and liabilities in order to minimize the impact of interest rates on net worth over time understanding immunizationimmunization helps large firms and institutions protect their portfolios from exposure...
what is impact investing
impact investing is making investments to help create beneficial social or environmental effects while also generating financial gains this investment strategy can involve different types of asset classes such as stocks bonds mutual funds or microloans the point of impact investing is to use money and investment capita...
when focused on environmental causes sri may be known as green investing
many asset management companies banks and other investment houses now offer funds specifically tailored to socially responsible investors special considerationssocially and environmentally responsible practices tend to attract impact investors meaning companies can benefit financially from committing to socially respon...
what is impact focused investing
impact focused investing or simply impact investing is an investment strategy that seeks to achieve social or environmental goals as well as generate profit unlike philanthropic endeavors impact investors typically expect a return on their investment although this may be a secondary consideration
does impact investing work
most impact investors seek returns that are comparable to market rates and some impact funds can even outperform the market generally speaking the returns from impact investing tend to be slightly lower than the market average in a 2021 study by the university of california the median impact fund had a median internal ...
what is the difference between esg and impact investing
environmental social and governance practices refer to business decisions that could affect the returns of that company for example a company that knowingly employs child labor or engages in discrimination could be at a competitive disadvantage particularly when marketing to socially conscious consumers impact investin...
what is an impact investing firm
an impact investing firm is an investment fund that specifically seeks to support beneficial social or environmental outcomes in addition to generating financial returns some impact funds invest in causes that they believe will generate strong returns others consider profits to be a secondary consideration
what is an impact investing strategy
an impact investing strategy is an investment strategy that targets companies or industries that produce social or environmental benefits for example some impact investors seek to support renewable energy electric cars microfinance sustainable agriculture or other causes that they believe to be worthwhile the bottom li...
what is an impaired asset
an impaired asset is an asset that has a market value less than the value listed on the company s balance sheet when an asset is deemed to be impaired it will need to be written down on the company s balance sheet to its current market value jake shi investopedia
how impaired assets work
an asset is impaired if its projected future cash flows are less than its current carrying value an asset may become impaired as a result of materially adverse changes in legal factors that have changed the asset s value significant changes in the asset s market price due to a change in consumer demand or damage to its...
when a capital asset is impaired the periodic amount of depreciation is adjusted moving forward retroactive changes are not required for adjusting the previous depreciation already taken however depreciation charges are recalculated for the remainder of the asset s useful life based on the impaired asset s new carrying...
in 2015 microsoft recognized impairment losses on goodwill and other intangible assets related to its 2013 purchase of nokia initially microsoft recognized goodwill related to the acquisition of nokia in the amount of 5 5 billion plus another 4 5 billion in other intangible assets the book value of goodwill from the no...
how do you calculate the impairment of an asset under gaap
to calculate the impairment of an asset take the carrying value of the asset its historical cost minus accumulated depreciation and subtract its fair market value if its fair market value is less than the carrying value you will need to record an impairment loss for the difference
where does impairment show up on my company s financial statements
an impairment loss shows up as a negative value on the income statement if you keep a contra asset account for the value of the impairment to preserve the historical cost of the asset it would be reported directly below the asset on your balance sheet a contra asset account has a natural balance that is opposite that o...
when should an asset be impaired
an asset should be impaired when its fair market value is less than its carrying value historical cost minus accumulated depreciation this may occur due to physical damage to the asset a change in consumer demand or legal changes surrounding the asset the bottom line
when a company has an asset that is now worth less than the value given for it on the company s balance sheet that asset is impaired using an inflationary accounting method the company will write down the asset s value on the company s balance sheet the loss in value is also recorded on its income statement
gaap and ifrs have differing standards for impairment depreciation is not the same thing as impairment and when an asset is impaired depreciation on that asset also needs to be adjusted
what is impaired credit
impaired credit typically refers to a deterioration in the perceived creditworthiness of an individual a business or other entity impaired credit is usually reflected for individuals in a lower credit score and for businesses and other entities as a lower credit rating would be borrowers with impaired credit will find ...
how impaired credit works
impaired credit is usually the result of financial stress brought on by a change in circumstances often an unforeseen one in the case of an individual impaired credit may be the result of a job loss a costly illness a steep decline in asset values or a multitude of other crises that can make it difficult for a person t...
how creditworthiness is assessed for individuals
for individuals credit scores are the most common and simplest measure of creditworthiness credit scores are based on the information in a person s credit report and expressed as a three digit number typically ranging from 300 to 850 credit scores consider a number of factors and weight them in terms of importance in t...
how creditworthiness is assessed for businesses and governments
credit ratings agencies assess the creditworthiness of businesses governments and other entities assigning them letter grades rather than numbers they also rate the credit quality of the debt such as bonds that these entities may issue the major credit rating agencies are fitch ratings moody s investors service and s p...
what is credit repair
credit repair usually refers to the steps a person or third party working on their behalf can take to remove information from their credit report that is damaging to their credit score however it s worth noting that only inaccurate information can be removed from a credit report accurate information will remain on the ...
how can you obtain your credit report
you can obtain your credit reports from all three major credit bureaus at the official website annualcreditreport com by law you are entitled to a free report from each of the three bureaus at least once every 12 months if you find errors especially ones that might be hurting your credit score you have a right to chall...
how can you obtain your credit score
you may be able to obtain your credit score free of charge from your bank or credit card companies there are also some reliable websites that offer free credit scores bear in mind that there are multiple credit scoring models so chances are you have several credit scores and the one you get for free may not be identica...
what is impairment
in accounting impairment is a permanent reduction in the value of a company asset it may be a fixed asset or an intangible asset
when testing an asset for impairment the total profit cash flow or other benefits that can be generated by the asset is periodically compared with its current book value if the book value of the asset exceeds the future cash flow or other benefits of the asset the difference between the two is written off and the value...
investopedia xiaojie liuunderstanding impairmentimpairment is most commonly used to describe a drastic reduction in the recoverable value of a fixed asset the impairment may be caused by a change in the company s legal or economic circumstances or by a casualty loss from an unforeseeable disaster for example a construc...
how is impairment determined
the generally accepted accounting principles gaap define an asset as impaired when its fair value is lower than its book value to check an asset for impairment the total profit cash flow or other benefit expected to be generated by the asset is compared with its current book value if it is determined that the book valu...
where are impairment losses shown
impairment losses are shown both on the income statement and the balance sheet an impairment loss is simultaneously recorded as an expense on the income statement and reduces the value of the impaired asset on the balance sheet 10
how is impairment accounted for
an accountant will write off the difference between the fair and carrying values if an impairment is present and the value of the asset decreases on the company s balance sheet fair value is typically the sum of an asset s undiscounted expected future cash flows and its expected salvage value which is what the company ...
what is the purpose of asset impairment
the overall goal of asset impairment is to periodically evaluate a company s assets to make sure the total value of the assets is not being overstated an impaired asset is one that has a market value less than what is listed on the company s balance sheet there are various factors that can affect an asset s value so pe...
is an impaired asset considered a loss
under gaap an impaired asset must be recorded as a loss on the income statement it is important to compare the value of the asset to the fair market value to help determine the loss 9the bottom lineimpairment refers to the reduction in the value of a company asset either a fixed asset or an intangible asset the entire ...
what is impeachment
impeachment as authorized by article ii section 4 of the u s constitution is the formal process that allows congress to bring charges of treason bribery or other high crimes and misdemeanors against high ranking civil officers such as the president 1the power to impeach serves as the first step in an important check on...
how impeachment works
article ii section 4 of the u s constitution says importantly impeachment is not the same as removal or conviction though many people think that is the case impeachment is a charging process similar to an indictment in a criminal proceeding impeachment at the federal level is rare removal even more so impeachment proce...
when the senate receives the resolution that body advises the house when it will receive the managers and begin the impeachment trial the senate becomes the court with the president of the senate presiding except when the person impeached is the president in which case the presiding officer is the chief justice of the ...
penalties of impeachment and convictionthe penalty for impeachment is a trial in the senate because impeachment is the same as an indictment there is no other penalty except perhaps to one s reputation impeachment as discussed above only requires a simple affirmative majority in the house of representatives the constit...
what is imperfect competition
imperfect competition exists whenever a market violates the abstract tenets of neoclassical perfect competition this can happen in both real and hypothetical markets in an imperfectly competitive environment companies sell different products and services set their own individual prices fight for market share and are of...
what is an example of a business in imperfect competition
there are a multitude of examples of businesses and markets that exhibit characteristics of imperfect competition for instance consider the airline industry in this sector there are limited firms operating and high regulatory and financial barriers to entry airline ticket sellers also typically have a high degree of co...
what is an example of a perfectly competitive market
the farmer s market was mentioned above as a potential example of a perfectly competitive market this would be the case if a few conditions were met the many stalls at the farmer s market sold identical or nearly identical products such as fresh produce shoppers could set the prices they were willing to pay all transac...
is a monopoly imperfect competition
a monopoly is a clear example of imperfect competition defined as a market dominated by one seller monopolies allow firms to set any price they wish and yield high levels of profit in monopolistic industries buyers rarely have full information about market conditions when transacting they may be subject to a range of f...
what is an imperfect market
an imperfect market refers to any economic market that does not meet the rigorous standards of the hypothetical perfectly or purely competitive market pure or perfect competition is an abstract theoretical market structure in which a series of criteria are met since all real markets exist outside of the spectrum of the...