Which of the following is considered to be the best example of pure competition in today's business environment?

Question

Quizplus · Accepted Answer

Agriculture is considered to be the best example of pure competition as it has a large number of small suppliers who compete with each other on the price of their products. The products are also considered to be homogeneous, meaning they are very similar to each other, and buyers have many options to choose from. In contrast, the other industries listed have fewer suppliers and more barriers to entry, which reduces competition.

Which of the Following Is Considered to Be the Best