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To: Don Lloyd who wrote (102449)	5/15/2001 6:56:13 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

you can define things any way you want but to converse in economics you have to honor their definitions -- my son, who is six, keeps explaining to me why he thinks 70 ought to be classified as an odd number.. According to his classification scheme that's fine, but he can't converse intelligently about numbers until he understands and uses the accepted definition -- so it is with what defines a competitive market. A competitive market implies competitors engage in the market -- use of the term in economics implies more than you are using in your definition -- that is all.

To: Don Lloyd who wrote (102449)	5/15/2001 9:02:56 PM
From: benwood	Read Replies (1) \| Respond to of 436258

Don, for what it's worth, all your arguments have made perfect sense to me. Your description of the free market and one seller & one buyer sound like auctions I've seen at eBay -- there's always the chance somebody else will auction off the same item, and always the chance more than one person will bid. I also agree that being informed has nothing to do with it -- I can study Consumer Reports for weeks, hunt through the newspaper circulars for days and finally go to what I perceive as the place with the best price, only to find some other guy there buying the same thing completely on impulse and with none of the knowledge that I have, except he thinks it looks 'neat.' --Ben