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Purely competitive, purely monopolistic, monopolistic-competitive, and oligopolistic are terms to describe how a market behaves, not the regulatory environment
by wtfrmyinitials 7y ago
Purely competitive, purely monopolistic, monopolistic-competitive, and oligopolistic are terms to describe how a market behaves, not the regulatory environment the market exists within. A "free market" is a regulatory environment and not a market behavior.
- jacques_chester 7y agoThat's pretty much my point, yes.
- SantalBlush 7y agoEconomists still typically don't use the term "free market," because it's loaded and often inaccurate. "Unregulated" would be preferable, I think.