Online auctions are most associated with pure competition. In a pure competition market, numerous buyers and sellers interact, and prices are determined by supply and demand. Online auctions facilitate this competitive environment, allowing many participants to bid on items, reflecting their value based on competition among buyers.
Online auctions are most associated with which competitive situation?
Responses
communism
communism
oligopoly
oligopoly
pure competition
pure competition
monopoly
1 answer
1 answer