When different companies sell commodity products that consumers perceive as substitutable, this is called:
A)pure competition.
B)price engagement.
C)monopolistic competition.
D)oligopolistic competition.
E)noncompetitive marketing.

Question

Quizplus · Accepted Answer

Pure competition occurs when different companies sell commodity products that are perceived by consumers as substitutable, meaning there is little to differentiate between products from different companies.

When Different Companies Sell Commodity Products That Consumers Perceive as Substitutable