CUET Preparation Today
The existence of a large number of buyers and sellers in the perfectly competitive market means? |
Only sellers can influence the market by their size. Individual buyer or seller can influence the market by their size. Each individual buyer and seller is very large compared to the size of the market. Each individual buyer and seller is very small compared to the size of the market. |
Each individual buyer and seller is very small compared to the size of the market. |
The correct answer is Option (4) → Each individual buyer and seller is very small compared to the size of the market. In a perfectly competitive market, there are a large number of buyers and sellers, and each one is so small in size relative to the entire market that no individual buyer or seller can influence the market price. This is a key feature of perfect competition — the price is determined by the forces of demand and supply, not by individual participants. |
