Perfect Competition Is Characterized by

question 136

Multiple Choice

Perfect competition is characterized by

• A) many buyers and many sellers.
• B) few buyers and few sellers.
• C) few buyers and many sellers.
• D) many buyers and few sellers.
• E) a few companies that control the market.

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Definitions:

Jean Piaget

A Swiss psychologist known for his pioneering work in the study of child development and his theory of cognitive development.

Milestones

Significant points in development or events marking important stages or achievements in a process.

Dominant Gene

A gene that expresses its phenotype over another gene, the recessive gene, when they are both present in a pair of alleles.

Recessive Gene

A gene that produces its characteristic phenotype only when its allele is identical, otherwise being masked by the effects of a dominant gene.