Purely competitive according to strict economics definition

Reference no: EM13685481

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

Reference no: EM13685481

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