An Assumption of the Model of Perfect Competition Is

question 14

Multiple Choice

An assumption of the model of perfect competition is:

• A)identical goods.
• B)difficult entry and exit.
• C)few buyers and sellers.
• D)cooperation and interdependence between sellers.

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Definitions:

Great Depression

Worst economic depression in American history; it was spurred by the stock market crash of 1929 and lasted until World War II.

Segregation

A policy or practice of separating people based on race or ethnicity, often resulting in inequality and discrimination.

Greensboro Sit-in

A series of nonviolent protests in 1960 which started when four African American students sat at a segregated lunch counter in Greensboro, North Carolina, challenging racial segregation.

Militancy

The use of confrontational or violent methods in support of a political or social cause, often characterized by a radical approach to achieving objectives.