Market structures are:
A) groupings of firms that use similar processes in creating products.
B) groupings of firms that compete in a limited geographic market.
C) a classification system for grouping goods and services and how they are distributed.
D) models of market situations for grouping sellers according to the degree of competition among them.

Question

Quizplus · Accepted Answer

Market structures are indeed models that categorize sellers based on the level of competition among them, reflecting how markets operate in terms of number of sellers, product differentiation, and ease of entry and exit.

Market Structures Are