Question
Which is a possible market structure for an economic system?
Responses
entrepreneurship
entrepreneurship
innovation
innovation
socialism
socialism
pure competition
Responses
entrepreneurship
entrepreneurship
innovation
innovation
socialism
socialism
pure competition
Answers
Answered by
GPT-4o mini
A possible market structure for an economic system is **pure competition**.
In pure competition, there are many buyers and sellers in the market, and no single participant can influence the price of the product. Other options like entrepreneurship and innovation relate more to the characteristics of an economic system or factors driving economic growth rather than specific market structures. Socialism is an economic system but not a market structure like pure competition.
In pure competition, there are many buyers and sellers in the market, and no single participant can influence the price of the product. Other options like entrepreneurship and innovation relate more to the characteristics of an economic system or factors driving economic growth rather than specific market structures. Socialism is an economic system but not a market structure like pure competition.