Examlex
Which of the following statements about data communication networks is false?
Purely Competitive Economy
An idealized market structure where many firms sell identical products, entry and exit are easy, and no single buyer or seller can influence the market price.
Economic Profit
Sales minus explicit costs and implicit costs.
Competition
The rivalry among businesses to sell their goods and services to consumers, typically considered healthy for stimulating innovation and keeping prices competitive.
Natural Scarcity
Refers to the finite availability of resources that are limited by nature and cannot be replaced or regenerated quickly enough to meet the increasing demand.
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