Regulation Of Competition

W. A. Jöhr
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W. A. Jöhr: Handelshochschule

A chapter in Monopoly and Competition and their Regulation, 1954, pp 338-356 from Palgrave Macmillan

Abstract: Abstract A HIERARCHIC, non-competitive system has to rely on deliberate organization or planning for the fulfilment of its economic aims, but in a free market economy this function is automatically performed by competition, which distributes work and co-ordinates activity so as to achieve the maximum satisfaction of wants under any given distribution of income.

Keywords: Demand Curve; Social Security Benefit; Monopoly Price; Maximum Price; Competitive Mechanism (search for similar items in EconPapers)
Date: 1954
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08434-0_18

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DOI: 10.1007/978-1-349-08434-0_18

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