Which of the Following Is a Defining Characteristic of a Perfectly

question 32

Multiple Choice

Which of the following is a defining characteristic of a perfectly competitive market?

• A) Persistent economic profits in the long run
• B) Higher prices being charged for certain name brands
• C) No restrictions on entry into the industry
• D) Advertisements by well- known celebrities

---

Definitions:

Transnational Communities

Communities whose boundaries extend between countries.

Ethnic Groups

Collectives of people who share a common identity based on cultural characteristics such as language, religion, ancestral heritage, and traditions.

Boundaries

Limitations or borders that define the scope of responsibilities, roles, and distinctions between entities or concepts.

Hart-Cellar Act

A U.S. immigration law enacted in 1965 that abolished the earlier quota system based on national origin and established a new immigration policy based on reuniting immigrant families and attracting skilled labor to the United States.