Which term best describes the situation where customers offer goods and services to each other over the internet?

• A. Monopoly markets
• B. Oligopoly markets
• C. Peer-to-peer (P2P) markets
• D. Traditional retail markets

Answer: (C)

Verified step by step guidance

1. Understand the key terms: Monopoly markets refer to a market structure where a single seller dominates the entire market with no close substitutes.
2. Oligopoly markets describe a market dominated by a few large firms, where each firm’s decisions affect the others.
3. Traditional retail markets involve businesses selling goods or services directly to consumers, typically through physical stores or established channels.
4. Peer-to-peer (P2P) markets are platforms where individuals offer goods or services directly to each other, often facilitated by the internet, bypassing traditional intermediaries.
5. Since the question describes customers offering goods and services to each other over the internet, the term that best fits this description is Peer-to-peer (P2P) markets.