Saarland Abitur Economics Practice Questions - Saarland Abitur Economics (VWL) Exam

Question 5

What is 'vollkommene Konkurrenz' (perfect competition), the market form with the most sellers?

A market form with many small firms selling identical products, none able to influence price alone A market form with only one seller controlling the entire market A term unrelated to market mechanisms A market form found only for luxury goods

Correct Answer:

A market form with many small firms selling identical products, none able to influence price alone

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