Which of the following is most likely to be characterized by pure competition in the United States?
A) Soybeans.
B) Cereal.
C) Soft drinks.
D) Computer operating systems.
E) Fast food restaurants.

Question

Quizplus · Accepted Answer

Soybeans are a commodity with many producers, and no one producer has significant control over the market price. Therefore, the soybean industry is most likely characterized by pure competition. The other options may have elements of competition, but they also have dominant players or brand recognition that can affect the market.

Which of the Following Is Most Likely to Be Characterized