Pure competition is the market structure where a large number of firms sell identical products.

Name: Pure competition is the market structure where a large number of firms sell identical products.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

In a pure competition market structure, also known as perfect competition, there are many firms that sell products which are essentially identical, leading to a high level of competition and no single firm having significant control over the market price.

Pure Competition Is the Market Structure Where a Large Number