It is appropriate to use the supply-and-demand model in which of the following markets?
A) beer market
B) car market
C) wheat market
D) market for breakfast cereal

Question

Quizplus · Accepted Answer

The supply-and-demand model is most appropriate for markets that are competitive with many buyers and sellers, such as the wheat market, where no single buyer or seller can influence the price.

It Is Appropriate to Use the Supply-And-Demand Model in Which