While very few markets are purely competitive according to, Ask an Expert

Economics

While very few markets are 'purely competitive' according to the strict economics definition, market analysts often use competition as the:

1. Benchmark from which to judge other market settings

2. Standard of an inefficient market structure.

3. Market with poor entry and exit conditions

4. One market with typical asymmetry in information

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91225203

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