Which of the following explains 'Market Structure'?
A) The total set of conditions in which a company sells its products, with special attention to the number of parties in the market and the nature of the product being traded.
B) The number of suppliers.
C) The total set of conditions in which a company sells its products with special attention to the nature of the product being traded.
D) The total set of conditions in which a company sells its products with special attention to the number of parties in the market.

Question

Which of the following explains 'Market Structure'? 
A) The total set of conditions in which a company sells its products, with special attention to the number of parties in the market and the nature of the product being traded. 
B) The number of suppliers. 
C) The total set of conditions in which a company sells its products with special attention to the nature of the product being traded. 
D) The total set of conditions in which a company sells its products with special attention to the number of parties in the market.

Quizplus · Accepted Answer

Market structure refers to the total set of conditions in which a company sells its products, with special attention to the number of parties in the market and the nature of the product being traded. It includes factors such as the level of competition, barriers to entry, and the availability of substitute products.

Which of the Following Explains 'Market Structure