Most markets in the economy are

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Most markets in the economy are highly competitive, which means that there are many buyers and sellers who have access to the same information and have the ability to enter or exit the market easily. In such markets, no single seller or buyer has the power to influence the price of the product, and the price is determined by the forces of supply and demand. This is in contrast to markets where either sellers or buyers have the power to control the price. Markets where there are few, if any, similar products offered by other sellers are more likely to be monopolies or oligopolies, where sellers have more market power and can control the price.

Most Markets in the Economy Are