The market in which the operators are many and none of them can influence the price is

Assessment: JAMB UTME - Economics - 2015 Subject: Economics

Question 1 Report

The market in which the operators are many and none of them can influence the price is
Answer Details
The market in which none of the operators can influence the price is called a "perfect market". In a perfect market, there are many buyers and sellers of a particular product or service, and no single buyer or seller has enough power to affect the market price. This means that the price is determined solely by the forces of supply and demand. In a perfect market, all buyers and sellers have perfect information about the product or service being sold, and there are no barriers to entry or exit. This means that new sellers can enter the market easily and existing sellers can exit the market without affecting the price. Examples of perfect markets include the market for agricultural products, such as wheat or corn, where there are many buyers and sellers, and the price is determined by the forces of supply and demand. The stock exchange market, on the other hand, is not a perfect market, as the actions of large institutional investors and market makers can affect the price of individual stocks.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning