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25 January, 16:51

Competition in a market system denotes a condition where A. the diffusion of economic power limits its potential abuse. B. any given product can be purchased at a wide range of prices. C. contractual agreements among individual firms are restricted and avoided. D. a few large, dominant sellers are constantly jostling for market share.

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  1. 25 January, 17:53
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    The answer is: A) the diffusion of economic power limits its potential abuse.

    Explanation:

    Ina market system, producers will be willing to offer what consumers are willing to pay. That means that consumers are "kings" if competition exists in a market. Consumers should be able to choose what product suits them best and satisfies their needs. A large number of suppliers guarantees more consumer satisfaction.

    Problems start when competition starts to vanish and monopolies appear.
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