Nominal Market
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A Nominal Market is a competitive market that is informally defined and informally regulated.
- Context:
- It can range from being a Tight Nominal Market to being a Loose Nominal Market.
- Example(s):
- a Labor Market.
- a Capital Market.
- …
- Counter-Example(s):
- a Formal Market, such as a stock market.
- See: Natural Monopoly.