If Markets Are Perfectly Competitive and Price Has a Value

question 215

Multiple Choice

If markets are perfectly competitive and price has a value other than its equilibrium value,then is it possible to identify an unrealized transaction that would make the buyer and the seller better off?

• A) Yes,always.
• B) Yes,often.
• C) Yes,occasionally.
• D) Yes,but only if the government intervenes to set the price.
• E) No,under no circumstances.

---

Definitions:

Environment

The external physical, social, and cultural factors that influence an individual's or organization's functioning and development.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, leading to increased interconnectedness and interdependence.

Organizational Diversity

The inclusion of individuals with a variety of characteristics, such as cultural background, race, gender, age, and skills, within an organization.

Sovereign Nations

Independent states that have full self-governing power over themselves and are not controlled by any other external power.