A competitive market is a market in which there are enough buyers and sellers that each has a negligible impact on the market price.

Question

Quizplus · Accepted Answer

In a competitive market, the forces of supply and demand determine the market price, and no single buyer or seller has the power to influence it. This results in a market with many small players who operate within a framework of rules and regulations that ensures fair competition.

A Competitive Market Is a Market in Which There Are