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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1151950
Introduction to Economics 1 Deneme Sınavı Sorusu #1151950
Which of the following is the correct definition of a competitive market?
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Where there is only one seller of the product and this seller sets the price alone, |
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Where there are few buyers and sellers so that the effect of each one on market price is normal, |
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Where there are many buyers and sellers so that the effect of each one on market price is negligible, |
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Where there are many buyers and sellers so that the effect of each one on market price is huge, |
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Where there are many buyers and single seller so that the effect of each one on market price is negligible. |
Yanıt Açıklaması:
Perfect Competition
A competitive market is a type of market in which there are many buyers and sellers so that the effect of each one on market price is negligible.
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