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in a competitive market free of government regulation, question 29 options: price adjusts until quantity demanded is greater than quantity supplied. price adjusts until quantity demanded is less than quantity supplied. price adjusts until quantity demanded equals quantity supplied. supply adjusts to meet demand at every price.



Answer :

In a competitive market free of government regulation, price adjusts until quantity demanded equals quantity supplied.

Hence, option C is correct.

What do you mean by competitive market?

  • When multiple companies create the same or comparable goods and/or services and compete to sell them to the same target market of customers, this is known as market competition in economics.
  • In a free market economy, prices are determined by interactions between buyers and sellers.
  • When perfect competition reigns in the market, numerous small businesses offer the same goods. Each business simply accepts the market pricing because none is big enough to control prices. Supply and demand work together to set the price.

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