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

Question

Quizplus · Accepted Answer

Pure competition is characterized by many buyers and sellers trading in a uniform commodity, and no single buyer or seller has control over the market price. In such a market, prices are determined solely by the forces of supply and demand, and there is no incentive for any individual buyer or seller to deviate from the prevailing market price.

Under ,The Market Consists of Many Buyers and Sellers Trading