Which of the following industries most closely approximates pure competition?
A)agriculture
B)farm implements
C)clothing
D)steel

Name: Which of the following industries most closely approximates pure competition? A)agriculture B)farm implements C)clothing D)steel
Brand: Quizplus
Rating: 4.9 (33 reviews)

Question

Quizplus · Accepted Answer

Agriculture most closely approximates pure competition because it consists of many small producers and consumers, products are homogeneous, and there are no significant barriers to entry or exit in the market.

Which of the Following Industries Most Closely Approximates Pure Competition