Which of the Following Is NOT a Characteristic of Competitive

question 45

Multiple Choice

Which of the following is NOT a characteristic of competitive markets?

• A) They produce a standardized product.
• B) Purchases and sales of individual traders are small relative to the total volume traded.
• C) Prices adjust quickly.
• D) There are relatively few sellers.

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Definitions:

Business Strategy Execution

The implementation of plans and initiatives undertaken by a business to achieve its long-term goals and maintain competitive advantage.

Organizational Structure

The system of hierarchy and arrangement of work roles, responsibilities, and communications within an organization.

Analyzer Business Strategy

A strategic approach where a company maintains its current market presence while simultaneously seeking growth through innovation and adapting to market changes.

Speed

A measure of how quickly an operation or process is performed or completed.