An economic in which goods or shares are scarce and sellers can keep prices high.

An economic in which goods or shares are scarce and sellers can keep prices high.

• A. Price Competition
• B. Sellers Market
• C. Non-price Competition
• D. Buyers Market

Answer: (B)

In a seller's market, demand for goods or shares exceeds the available supply, making those items scarce. Because buyers want the limited supply, sellers have bargaining power and can keep prices high. This imbalance—scarcity paired with strong demand—drives prices up and allows sellers to be selective. That’s why this option best fits the description. The other ideas describe ways competition can occur or opposite conditions: price competition focuses on lowering prices to win buyers, non-price competition uses factors like quality or service rather than price, and a buyers market is when plenty of goods exist relative to demand, pushing prices down.

In a seller's market, demand for goods or shares exceeds the available supply, making those items scarce. Because buyers want the limited supply, sellers have bargaining power and can keep prices high. This imbalance—scarcity paired with strong demand—drives prices up and allows sellers to be selective.

That’s why this option best fits the description. The other ideas describe ways competition can occur or opposite conditions: price competition focuses on lowering prices to win buyers, non-price competition uses factors like quality or service rather than price, and a buyers market is when plenty of goods exist relative to demand, pushing prices down.