the solution of cbse board 2015 paper Q7 is incorrect. the question is asking for large no. of buyers whereas solution is provided for large no. of sellers.
Ayush,
In a perfectly competitive market, there are large number of buyers. The number of buyers is so large that no individual buyer by changing his demand can affect the total market demand for the commodity. An individual buyer has no control over the existing market price and cannot influence it and therefore an individual buyer is a price taker and not a price maker.
In a perfectly competitive market, there are large number of buyers. The number of buyers is so large that no individual buyer by changing his demand can affect the total market demand for the commodity. An individual buyer has no control over the existing market price and cannot influence it and therefore an individual buyer is a price taker and not a price maker.