unrestricted competition
/ʌnˌrɛstriːktɪd kəmˈpɛtɪʃən/ · un.re.stric.ted.com.pe.ti.tion
noun
- A market or environment where businesses or individuals can operate freely, without government intervention or regulatory constraints. The company's success in the unrestricted competition led to its rapid expansion into new markets.
- A situation or event where participants are not limited by rules or restrictions, allowing for a more natural or authentic outcome. The unrestricted competition in the art exhibition allowed the artists to showcase their work without any external influence or censorship.
Synonyms
free marketopen competitionunregulated marketlaissez-faire economyopen marketfree tradeunrestricted tradeunfettered competition
Antonyms
Did you know? The concept of unrestricted competition has been influential in shaping economic theories, such as Adam Smith's 'invisible hand' in his book 'The Wealth of Nations', which describes how free markets can lead to efficient allocation of resources.