In a competitive market, every consumer willing to pay the market price can buy a product and
every producer willing to sell the product at that price can sell it.

Question

Quizplus · Accepted Answer

In a competitive market, the market price is determined by the forces of supply and demand, and every consumer who is willing to pay that price can purchase the product, and every producer who is willing to sell at that price can sell it. This is the basic principle of competitive markets.

In a Competitive Market, Every Consumer Willing to Pay the Market