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You are here: Home / Potpourri / Economics 101: What Is A Competitive Market?

Economics 101: What Is A Competitive Market?

Economics 101: What Is A Competitive Market?

[This is part of the series: The Complete Guide To Economics 101.]

What is a competitive market?

I have defined a market, in general.

More specifically, a market can be made up of many types of buyers and sellers.

A Competitive Market is market made up of both many buyers and many sellers.

This is where no single buyer, and no single seller, can influence prices in a significant way.

Other examples of market makeups include:

  • Many buyers, and few sellers
  • Many buyers, and one seller
  • Few buyers, and many sellers
  • One buyer, and many sellers
  • And – One buyer, and one seller

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Filed Under: PotpourriTagged With: #Economics101

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