ABSTRACT
In many respects economists are much to blame for the confusion that abounds regarding the competitive process. The neoclassical model of perfect competition has invariably been used as a benchmark by which to assess other types of market structure. Such a market is perfect in the sense that the firms are all broadly of a similar size and capability and that a 'level playing field' exists, but the word 'competition' is entirely misplaced as the scope for rivalrous behaviour is near nonexistent if the conditions for a perfectly competitive market are fulfilled. The model is simply not capable of providing any insight into the ways in which firms actually compete.
