Question

what term describes a market consisting of a large number of producers and consumers?

Answer 1

Answer:

Perfect competition refers to a market that has many buyers and sellers, many similar products, and many substitutes. A good example is agriculture, where all rice farmers sell homogeneous products to consumers.

Answer 2

Answer:

Perfect competition refers to a market that has many buyers and sellers, many similar products, and many substitutes. A good example is agriculture, where all rice farmers sell homogeneous products to consumers.

Explanation:

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