Examlex

Solved

Global Flowers Inc

question 97

Multiple Choice

Global Flowers Inc.(GFI) ,an exporter of flowers across the globe,operates in an industry where there are many sellers and buyers.This makes it difficult for any one single seller or buyer to influence the market price of the flowers.Also,it is difficult for sellers or exporters to differentiate their products from each other.What type of market structure does this illustrate?


Definitions:

Opiates

A group of drugs derived from opium, used for their pain-relieving properties, but they can also be addictive.

Morphine

A powerful opioid analgesic drug derived from opium, used to relieve severe pain.

Heroin

An opioid drug made from morphine, a natural substance taken from the seed pod of the various opium poppy plants.

THC

Tetrahydrocannabinol, the principal psychoactive constituent of cannabis, responsible for its mind-altering effects.

Related Questions