Which of the Following Is the Best Example of a Perfectly

question 244

Multiple Choice

Which of the following is the best example of a perfectly competitive industry?

• A)wheat production
• B)steel production
• C)electricity production
• D)airplane production

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Definitions:

Perfect Tender Rule

A principle under the Uniform Commercial Code permitting a buyer to reject goods if they or their delivery fail to conform exactly to the contract, with certain exceptions.

Performance

The execution of an action or fulfillment of a contract as specified.

Withdraw Acceptance

The act of revoking acceptance of a contract or offer before it is fully executed, often under specific conditions or due to misrepresentation.

Reasonable Commercial Standards

A set of practices that are considered acceptable and customary in a particular industry or line of business.