In a Competitive Market, There Are So Few Buyers and So

question 266

True/False

In a competitive market, there are so few buyers and so few sellers that each has a significant impact on the market price.

---

Definitions:

Private Ownership

The legal right of an individual or entity to possess, use, and dispose of property or assets without interference from the government or public.

Propertyless Wage Labor

Refers to the condition of workers who do not own any property and therefore sell their labor for wages to survive.

Juggernaut

A powerful, unstoppable force or entity that crushes whatever is in its path, often used metaphorically to describe social or technological trends.

Disembedding

The process by which social relations are lifted out of local contexts and restructured across indefinite spans of time and space.