Question

Lack of competition would be considered a failure of the market in a free market system.

True
False

Answer 1

Any ideas?

Answer 2

What do you think?

Answer 3

False

Answer 4

Yes

Answer 5

"Conditions that must exist for unregulated markets to behave as free markets are summarized at perfect competition. An absence of any of these perfect competition ideal conditions is a market failure."
Source:
https://en.wikipedia.org/wiki/Free_market#:~:text=Perfect%20competition%20and%20market%20failure,-Main%20articles%3A%20Market&text=Conditions%20that%20must%20exist%20for,conditions%20is%20a%20market%20failure.

Answer 6

I think it would be true... because competition aids in the basis of balance in a free market system...but idk

Answer 7

Uh