The Competitive Model Assumes All of the Following Except

question 280

Essay

The competitive model assumes all of the following except:
A.a large number of buyers.
B.easy entry into and easy exit from the market.
C.standardized product.
D.patents and copyrights.

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Definitions:

Credit

An accounting entry that increases a liability or equity account or decreases an asset or expense account, reflecting the opposite of a debit.

Basic Accounting Equation

Assets = Liabilities + Stockholders’ Equity.

Assets

Resources owned by a business or individual that have economic value and can be converted into cash.

Liabilities

Financial obligations owed by a business to others, such as loans, accounts payable, mortgages, deferred revenues, or bonds.