Economists have identified four types of competitive markets, which are
A) capitalistic, monopolistic, socialist, and communist.
B) pure monopoly, monopolistic competition, oligopoly, and pure competition.
C) free market, restrained market, government-regulated, and command economy.
D) market economy, command economy, traditional economy, and controlled economy.
E) open market, consumer-dominated market, service market, and product market.

Question

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The four types of competitive markets identified by economists are pure monopoly, monopolistic competition, oligopoly, and pure competition.

Economists Have Identified Four Types of Competitive Markets, Which Are