Define and explain how perfect competition or a highly competitive markets impact the supply of goods and services? Explain these economic concepts applied to a specific highly competitive UK-based industry between 2010 and 2019”.

Answer the following question

“When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019”
Answer the following question
“Define and explain how perfect competition or a highly competitive markets impact the supply of goods and services? Explain these economic concepts applied to a specific highly competitive UK-based industry between 2010 and 2019”.