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You are here: Home / Potpourri / Economics 101: Competitive Market

Economics 101: Competitive Market

Economics 101: Competitive Market

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

What is a competitive market?

A Competitive Market is a market with large number of both buyers and sellers.

Because of this large number of both buyers and sellers, no single buyer and seller is able to have a significant impact on setting prices.

Said different, in a competitive market, all participants are price-takers.

Good examples for this are the markets for many different commodities: oil, sugar, coffee, cocoa, etc.

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Filed Under: PotpourriTagged With: #Economics101

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