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A perfectly competitive free market is one where no buyer or seller is able to affect the price of the goods being sold. Perfectly competitive free markets are depicted by the following:
1. Numerous buyers and sellers with no one dominating a substantial share of the market
2. Buyers and sellers can enter or exit the market freely
3. ... No external parties regulate the price, quantity, or quality of the goods
The criticisms of a perfectly competitive market argue that these markets do not establish justice based on need because those outside the market or those with little to contribute are not addressed.
Approximate Word count = 421
Approximate Pages = 1.7
(250 words per page double spaced)
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