A. A market is confined to all firms and individuals willing and able to buy or

Question

A.



A market is confined to all firms and individuals willing and able to buy or sell a particular product at a given time and place.




B.



The more even the balance of power between sellers and buyers, the more likely it is that the competitive process will yield maximum benefits.




C.



A close link between the numbers of market participants and the vigor of price competition is always evident.




D.



Market structure describes the competitive environment in the market for any good or service.




E.



Competitors often benefit from the effects of potential entrants in industries with only a handful of viable firms.

Explanation / Answer

answer B. The more even the balance of power between sellers and buyers, the more likely it is that the competitive process will yield maximum benefits.

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