Ch7, S1. Perfect Competition
As you might have suspected the word perfect here is a problem. There is no such thing as perfect competition. It is a term to denigrate free markets by making an artificial comparison with government control which is somehow supposed to be "perfect." In fact government control of economies produces cronyism and poverty. "Market failure" is not nearly as devastating as normal government intervention.
This quiz requires you to log in.
Please enter your Quia username and password. |
|
|
|
