In the United States, "farm products" are generally produced in more ___________ markets, while "food products" tend to be sold in markets that are more ____________.

Question

Quizplus · Accepted Answer

Farm products are typically produced in competitive markets due to the large number of farms and the relatively homogeneous nature of their outputs. Food products, on the other hand, often go through processing, branding, and distribution by a smaller number of companies, leading to more oligopolistic markets.

In the United States, "Farm Products" Are Generally Produced in More