Although There Are Many Reasons Why a Market Can Be

question 2

Multiple Choice

Although there are many reasons why a market can be non-competitive, the principal economic difference between a competitive and a non-competitive market is:

• A) the number of firms in the market.
• B) the extent to which any firm can influence the price of the product.
• C) the size of the firms in the market.
• D) the annual sales made by the largest firms in the market.
• E) the presence of government intervention.

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Definitions:

Building Blocks

Fundamental components or essential parts that form the foundation of a structure, concept, or system.

Financial Statement Analysis

A method used to understand the financial health and operating performance of a business through the review of its financial statements, including balance sheets, income statements, and cash flow statements.