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Why do economists consider perfect competition to be the most efficient market structure?
Economic system
The structured and organized way a society decides on the production, distribution, and consumption of goods and services.
Domesticating
The process of adapting wild plants or animals for human use, such as for food, work, companionship, or as pets.
Pastoralism
An economic system based on tending herds of large animals.
Collectively owns
The state of ownership where assets or properties are held in common by a group rather than individuals.
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