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Imagine you want to buy a newly released pair of Nike shoes and you go online to purchase them. Because the product you want is the same for every website, the only thing that will affect where you decide to purchase your shoes is the price. What type of economic situation exists in this example?
a. pure competition.
b. monopolistic competition.
c. monopoly.
d. oligopoly.

Answer :

Parraingo

Based on the fact that the product is the same on every website, the economic system is a. Pure competition.

What happens in a Pure Competition?

  • Product sold are all the same.
  • There are several sellers in the market.

In this scenario, there are several sellers ( website) and they sell the same shoe. This is therefore a pure competition. Price is also the same however so price should not affect your decision here either.

In conclusion, option A is correct.

Find out more on Pure Competition at https://brainly.com/question/12182534.

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