O-LevelEconomicsThe allocation of resources2281/11 · May/June 2022 · Q111 Mark
Which row shows an essential characteristic of competitive markets and monopoly markets? competitive markets: many buyers, monopoly markets: single seller competitive markets: many sellers, monopoly markets: single buyer competitive markets: single buyer, monopoly markets: many buyers competitive markets: single seller, monopoly markets: many sellers
Acompetitive markets: many buyers, monopoly markets: single seller
Bcompetitive markets: many sellers, monopoly markets: single buyer
Ccompetitive markets: single buyer, monopoly markets: many buyers
Dcompetitive markets: single seller, monopoly markets: many sellers
✓ Correct answer
A: competitive markets: many buyers, monopoly markets: single seller
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