In a perfectly free competitive market, no buyer or seller has the power to significantly affect the price of a good.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are many buyers and sellers, none of whom has a significant share of the market. This means that no single buyer or seller can influence the market price of a good; prices are determined by the overall forces of supply and demand.

In a Perfectly Free Competitive Market, No Buyer or Seller