Examlex
What is the most frequently occurring score in the following frequency distribution?
Many Buyers
A market condition where there are numerous consumers for a product, enhancing competition and potentially reducing prices.
Price Takers
Market participants who accept prevailing market prices and do not have the market power to influence those prices.
Competitive Market
A market structure characterized by a large number of firms competing with each other to sell similar or identical goods and services.
Perfect Competition
A market structure with many buyers and sellers, where all firms sell identical products and no single buyer or seller can influence the market price.
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