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Sagot :
Students in a college town have a choice between two wireless internet service providers. Both firms have wired every student residence, and their internet services are equally quick and dependable. This serves as an illustration of a competitive market.
What does "competitive market" mean?
When competition is at its highest level imaginable, a market is said to be competitive. It is also known as a perfectly competitive market and has many consumers, uniform products, unrestricted entry and departure, etc. Perfect competition, monopolistic competition, oligopoly, and monopoly are the four subtypes of economic market arrangements.
A market that is competitive in business is one where many producers compete with one another to meet the demands of many consumers. In a market where there is competition, neither a single producer nor a group of producers nor a single consumer nor a group of consumers can control how the market functions. The closest thing to ideal competition in the real world is probably the typical farmers' market.
To know more about monopoly please click here https://brainly.com/question/7217942
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