Markets that are characterized by many buyers and many sellers are:
A)inefficient.
B)competitive.
C)foreign.
D)monopolies.

Question

Quizplus · Accepted Answer

Markets with many buyers and many sellers are considered competitive markets. In these markets, no single buyer or seller has the ability to influence the market price, creating an environment where prices are determined by supply and demand. This type of market is generally considered efficient as prices are set based on market forces.

Markets That Are Characterized by Many Buyers and Many Sellers