What I wanted to make clear is that points 1 and 2 compound each other.
When there is healthy competition, businesses will consider fulfilling their customers' needs as the best way to increase profits.
When there is not healthy competition, businesses will be able to increase profits using methods that go against their customers' needs, because their customers have no alternative.
That is why we can't have monopolies.
But we do have monopolies, so we need a workaround: regulation.
When there is healthy competition, businesses will consider fulfilling their customers' needs as the best way to increase profits.
When there is not healthy competition, businesses will be able to increase profits using methods that go against their customers' needs, because their customers have no alternative.
That is why we can't have monopolies.
But we do have monopolies, so we need a workaround: regulation.