Which Is a Characteristic of a Perfectly Competitive Market

question 207

Multiple Choice

Which is a characteristic of a perfectly competitive market?

• A) no close substitutes for the product
• B) mutually interdependent decisions
• C) no barriers to market entry or exit
• D) potential for long-run economic profit

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Definitions:

Equality Before The Law

The principle that all individuals are treated equally by the law without any discrimination.

Equal Employment Opportunities

Policies and practices that ensure job applicants and employees are not discriminated against on the basis of race, color, religion, sex, national origin, age, disability, or genetic information.

Human Rights Acts

Legislation that outlines fundamental rights and freedoms that individuals are entitled to.

Discrimination

Unfair or prejudicial treatment of individuals based on characteristics such as race, gender, age, or disability, rather than on their merits.