There Are More Than 20 Stores on a Street in Sao

question 86

Multiple Choice

There are more than 20 stores on a street in Sao Paulo that specialize in selling the same quality and brand of wheat products.An individual seller cannot charge more than the going market price without the risk of losing business to the other stores.What type of market does this example represent?

• A) pure competition
• B) monopolistic competition
• C) oligopolistic competition
• D) a pure monopoly
• E) a black market

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Definitions:

International Access

The ability or right to reach or use services, resources, or information across country borders.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an increase in global connections.

Governments

Institutions or groups of people governing a community or unit, making and enforcing rules for a society.

International Trade Agreements

Formal accords between countries that govern the rules, regulations, and standards for trade and economic exchange across borders.