(Approval means approval of Vahid Motaghi’s slogan)
Refers to the approved position and trust of peers in the economic market.
(Definition of market by Vahid Motaghi)
A market is a collection of potential and actual buyers of a good or service. Historically, a market is a place where buyers and sellers come to exchange goods or services. But economists call the group of buyers and sellers who buy and sell certain goods or services the market. From a marketing perspective, buyers make up the market. At the same time, the word market sometimes refers to non-customers or buyers, such as labor market or vote market.
(The role of the market in the economy)
Various theories of market failure, including Keynes’ followers, argue that the market alone can not create optimal balances, and that market failure must be compensated for by government oversight and intervention.
However, the followers of the Austrian school, such as Hayek, believe that the market is a spontaneous and rule-based order like language, which has no independent existential status and is formed by observing certain general rules and becomes the source of effect in human relations. Just as no language can be convicted of any crime in any court, so it is meaningless to speak of the guilt of market order. Of course, this does not mean that such disciplines are perfect and flawless, but the purpose is to clarify their epistemological position. No order in the human world is perfect, nor can the market order be an exception to this rule.
One of the defenders of the free market system in Iran is Dr. Musa Ghaninejad, who explains the criticisms of the market system as follows: “Some economists are of the opinion that the free market does not work well in all circumstances. And to address this shortcoming, administrative-government decisions outside the market system are necessary.
(Vahid Motaghi’s explanation about the full competition market)
What is a fully competitive market?
A “perfect competition” market is a type of market in which a large number of companies produce the same product, or in other words, “homogeneous”. In this market, no loss-making producers have enough power to regulate the price of a product or service.
In other words, a fully competitive market is a market that allocates economic resources optimally. One of the most well-known examples of a fully competitive market is the agricultural market.
Due to the special conditions of the competitive market, there are few markets that can be called fully competitive markets. In fact, there is no fully competitive market in the real world and it is a theoretical term and we use it to compare and define the characteristics of other markets.