A. The degree of competition
B. The volume of trade
C. The number of buyers
D. It’s composition
Correct Answer:
Option A – The degree of competition
Explanation
They are basically 5 types of markets and what differentiates them from each other is the level of competition. This determines the difference between one market structure and another. In a market where there is only one seller of a product, the competition would be lower than in a market with many sellers of the same product.
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