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.

Competitive Markets

Markets characterized by the presence of multiple sellers and buyers, leading to a high level of competition and consumer choice.

Pure Monopoly

A pure monopoly exists when a single company or entity is the sole provider of a particular product or service, facing no competition in its market.

Monopolistic Competition

A market configuration where numerous firms offer similar, yet not identical, products, providing them with a certain level of market influence.