Under ________,the market consists of many buyers and sellers trading in a uniform commodity such as wheat,copper,or financial securities.
A)pure competition
B)monopolistic competition
C)oligopolistic competition
D)a pure monopoly
E)pure monopsony

Question

Quizplus · Accepted Answer

Pure competition involves a large number of buyers and sellers who trade in a homogenous product. This ensures that no single buyer or seller can influence the market price. Examples of such products include agricultural products like wheat, or commodities like copper, or financial securities traded on stock exchanges.

Under ________,The Market Consists of Many Buyers and Sellers Trading