Companies That Sell Products Whose Prices Are Set by Market

question 116

Multiple Choice

Companies that sell products whose prices are set by market forces are called

• A) price givers.
• B) price leaders.
• C) price takers.
• D) price setters.

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Definitions:

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance that is the main constituent of Earth's streams, lakes, and oceans.

Potassium

A soft, silvery-white metallic element, very reactive, especially in water, and essential for plant and animal life.

KCl

KCl, known as potassium chloride, is a metal halide salt composed of potassium and chlorine, used in medicine, food processing, and as a fertilizer.

Moles

A unit of measure in chemistry that represents 6.022 x 10^23 particles of a substance.