Which of the Following Types of Firms Would Be Most

question 3

Multiple Choice

Which of the following types of firms would be most closely associated with a perfectly competitive market structure?

• A) Energy companies
• B) Restaurants
• C) Hairdressers
• D) Wheat farms

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Definitions:

Geographic

Refers to anything related to the physical features of an area or the distribution of things over the Earth.

Product

An item or service created through a process and offered in the market to satisfy a need or desire.

Divisional Structure

An organizational layout where operations are grouped based on divisions, which could be product lines, geographical areas, or customer markets.

Functional Structure

An organizational structure where the company is divided into departments based on their functions, such as marketing, operations, and finance.