The main objectives of this discussion topic are the
following:
To provide clear definition for Pure Competitive Markets or
Perfectly Competitive Markets
To provide a clear set of characteristics of Purely Competitive
Markets
To assess the theoretical and policy relevance of Purely
Competitive markets to the real world (in other words evaluate why
Purely Competitive Markets are still being taught in Principles of
Microeconomics),
To provide clear definition for Non-Competitive Markets or
Imperfectly Competitive Markets (example, Monopoly, Monopolistic,
Oligopoly, Bilateral...