Economics 0455 · IGCSE · Market structure

Market structure — practice question

The table presents the features of a market. What characteristics does a perfectly competitive market have?

  • Aidentical product, many buyers, many sellers, price taker
  • Bidentical product, one buyer, many sellers, price maker
  • Csimilar product, many buyers, many sellers, price taker
  • Dunique product, few buyers, few sellers, price maker

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