Economists have identified four types of competitive markets: pure monopoly, monopolistic competition, oligopoly, and
A) pure competition.
B) government-dominated.
C) capitalist.
D) socialist.
E) communist.

Question

Quizplus · Accepted Answer

Pure competition is one of the four types of competitive markets, characterized by a large number of small firms, identical products, and easy market entry and exit.

Economists Have Identified Four Types of Competitive Markets: Pure Monopoly