Use the Following Two Statements to Answer This Question: I

question 39

Multiple Choice

Use the following two statements to answer this question: I. A market is a collection of buyers and sellers that, through actual or potential interactions, determine the price for a product or set of products.
II) An industry is a collection of markets for similar or closely related products.

• A) Both I and II are true.
• B) I is true, and II is false.
• C) I is false, and II is true.
• D) Both I and II are false.

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Definitions:

Bacteria

Microscopic, single-celled organisms found in diverse environments, capable of performing various biochemical processes.

Nitrogen Fixation

The chemical processes by which atmospheric nitrogen is assimilated into organic compounds, especially by certain microorganisms as part of the nitrogen cycle.

Earth's Seasons

Periods throughout the year characterized by changes in weather, ecology, and hours of daylight, resulting from the earth’s tilt and orbit around the sun.

Earth's Tilt

The angle between Earth's rotational axis and its orbital plane around the Sun, which significantly influences seasonal variations in climate.