In , 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) a pure monopoly
D) oligopolistic competition
E) a pure monopsony

Question

Quizplus · Accepted Answer

In pure competition, the market consists of many buyers and sellers trading in a uniform commodity, where no single buyer or seller has significant influence over the price.

In , the Market Consists of Many Buyers and Sellers