One of the unique features that distinguishes the perfect and imperfect market condition is _________
ECONOMICS
JAMB 2017
One of the unique features that distinguishes the perfect and imperfect market condition is _________
- A. profit motive principles
- B. absence of price control board
- C. price determines production and distribution
- D. number of sellers and buyers
Correct Answer: D. number of sellers and buyers
Explanation
A perfect market may be defined as one in which buyers or sellers cannot influence the price of goods and services. An imperfect market however is the market in which price of goods or services can easily be influenced by the seller or buyers
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