Which market is characterized by many buyers and sellers?
A)Monopoly
B)Oligopoly
C)Perfectly competitive
D)Duopoly

Question

Quizplus · Accepted Answer

A market characterized by many buyers and sellers is known as a perfectly competitive market. In a perfectly competitive market, no single seller or buyer has significant control over the prices of goods or services. There are many sellers offering similar products, making it easy for buyers to compare prices and select the most affordable option. This type of market structure typically leads to competitive pricing and efficient allocation of resources.

Which Market Is Characterized by Many Buyers and Sellers