Which of the Following Is the Best Example of a Perfectly

question 39

Multiple Choice

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

• A) farming
• B) diamonds
• C) athletic shoes
• D) soft drinks
• E) electricity distribution

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Bay of Pigs

The site of a failed invasion of Cuba in 1961, which was sponsored by the United States and intended to overthrow Fidel Castro.

Group Polarization

The tendency for a group to make decisions that are more extreme than the initial inclination of its members, often observed after group discussions.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.