A market in which there are more buyers for fewer goods and services is known as a:
A) seller's market.
B) monopoly.
C) buyer's market.
D) oligopoly.

Question

Quizplus · Accepted Answer

In a seller's market, the demand for goods and services exceeds the supply, giving sellers an advantage over buyers in price negotiations. This scenario is characterized by more buyers competing for fewer available goods or services.

A Market in Which There Are More Buyers for Fewer