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Unformatted text preview: what and when. Knowing ones rights to assets and income and being able to protect those rights are critical for market development. 3. They increase competition in markets or decrease it. Competition gives people incentives to do better and promotes equal opportunity. In competitive markets, resources are more likely to follow the merits of a project than the social or political connections of an entrepreneur. The degree of competition also affects innovation and economic growth....
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- Fall '08