Which of the Following Is Not a Characteristic of a Competitive

question 39

Multiple Choice

Which of the following is not a characteristic of a competitive market?

• A) All of these answers are characteristics of a competitive market.
• B) There are many buyers and sellers in the market.
• C) The goods offered for sale are largely the same.
• D) Firms generate small but positive economic profits in the long run.
• E) Firms can freely enter or exit the market.

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Definitions:

External Factors

Influences that originate outside an individual or system, affecting their behavior and outcomes.

Social Roles

The parts individuals play as members of a social group, which meet the expectations of society.

Better Adjusted

Describes individuals who are more effectively adapted to their social, emotional, or psychological environment.

Self-Esteem

An individual's subjective evaluation of their own worth and capabilities.