A competitive market is a market in which

A) an auctioneer helps set prices and arrange sales.
B) there are only a few sellers.
C) the forces of supply and demand do not apply.
D) no individual buyer or seller has any significant impact on the market price.

Competitive Market

A market structure characterized by a large number of buyers and sellers, homogeneous products, and ease of entry and exit, which leads to price tending towards marginal cost.

Supply And Demand

The economic model that determines the price of anything in a market, based on the quantity available and the desire of consumers for it.