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Which of the following is NOT a characteristic of perfectly competitive markets?
Ethnicity
A category of people who identify with each other based on shared attributes such as cultural heritage, language, history, ancestry, or nationality.
Gender Roles
Society's prescribed behaviors, roles, activities, and traits deemed acceptable for individuals based on their gender.
Social Factors
Aspects of society that influence individuals' lives, including family, education, economic status, and cultural norms.
Biological Factors
Refers to the physiological, genetic, and neurochemical elements that significantly influence an individual's behavior and attributes.
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