Which One Characteristic Most Clearly Defines a Market Structure

question 32

Multiple Choice

Which one characteristic most clearly defines a market structure?

• A) the number of suppliers in a market
• B) the market share
• C) the type of product sold
• D) how the company is organized

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Definitions:

Supply and Demand

The fundamental economic concept that describes the relationship between the availability of goods (supply) and the desire for them (demand), influencing price and availability.

Desirability

The quality of being appealing, attractive, or sought-after, often in the context of products, traits, or attributes.

Availability

The extent to which a product, service, or resource is accessible and usable upon demand.

Tertiary Sector

represents the part of the economy concerned with services, as opposed to the extraction of raw materials or manufacturing.