A Seller's Market is characterized by:

A Seller's Market occurs when the demand for products exceeds the available supply. In this scenario, buyers have fewer options and greater competition for the available products, often leading to higher prices. This situation empowers sellers, as they can dictate terms more favorably due to the scarcity of their offerings.

In a Seller's Market, the high demand coupled with short supply indicates that consumers are willing to compete for limited goods, which can also lead to increased sales and profitability for sellers. Thus, the characteristics of a Seller's Market are firmly rooted in the balance of supply and demand dynamics.

The other options illustrate conditions that do not align with a Seller's Market. Low demand for products would indicate a Buyer’s Market, where sellers must compete to make sales. Likewise, many substitutes present in the market create more competition and choice for consumers, reducing the seller's power. Finally, weak economic conditions typically lead to reduced consumer spending, further diminishing demand and contributing to a Buyer’s Market rather than a Seller's Market.