Examlex

Solved

A Parsec Is a Measure of

question 101

Multiple Choice

A parsec is a measure of


Definitions:

Buyer

An individual or entity that purchases goods or services for personal use or ownership rather than for reselling or producing other goods and services.

Seller

An individual or entity that offers goods or services for sale to consumers or other businesses.

Competitive Firm

A business operating in a market where it has little to no control over the price of its product, typically because the market has many sellers and buyers.

Competitive Market

A market structure where a large number of suppliers offer several substitutes, ensuring no single supplier controls the market prices.

Related Questions