Question 13 of 23
Choose the correct statements about competitive markets.
1. Competitive markets exist for goods, services, money, factors of production, and inputs.
2. A competitive market has many sellers.
3. In a competitive market, prices are eventually driven down to zero.
4. A competitive market is a market for services but not for goods.
A. Statements 2 and 3 are correct.
B. Statements 1 and 2 are correct.
C. Statements 1 and 4 are correct.
D. Statements 3 and 4 are correct.