O-LevelEconomicsThe allocation of resources2281/11 · May/June 2021 · Q151 Mark

Which market is likely to be the most competitive?

Ahigh barriers to entry, few sellers

Bhigh barriers to entry, many sellers

Clow barriers to entry, few sellers

Dlow barriers to entry, many sellers

✓ Correct answer

D: low barriers to entry, many sellers

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2021 Paper 1 Variant 1, question 15.

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