What is the term for a market structure with many competitors selling virtually identical products?
A)pure competition
B)oligopoly
C)natural competition
D)monopolistic competition

Question

Quizplus · Accepted Answer

Pure competition is characterized by many small firms selling identical products, with no single firm having control over the market price. Oligopoly, on the other hand, is characterized by a small number of large firms dominating the market, while monopolistic competition involves many firms selling differentiated products. "Natural competition" is not a commonly used term in economics.

What Is the Term for a Market Structure with Many