For my international marketing course, I had to write a report about the business culture in France. While discussing the currency exchanges between the US and France, I started to see how the Foreign Exchange Market could possibly be an example of pure competition in the short run. For example, currency is homogenous— a dollar is a dollar and a euro is a euro no matter where it is traded. It’s also traded for its relative value. There are also many buyers and sellers (no barriers) so that no one person can influence the market, making them a price taker.
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