What Characteristic Would a Less Competitive Market Have

question 174

Multiple Choice

What characteristic would a less competitive market have?

• A) high barriers to entry
• B) increased number of potential substitutes
• C) strong bargaining power among buyers
• D) strong bargaining power among suppliers

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Definitions:

Profile Head

An artistic representation of a person's face from the side view, commonly found in various forms of art to focus on facial features and expressions.

Mesopotamia

An ancient region located in the eastern Mediterranean, roughly comprising modern-day Iraq, Kuwait, and parts of Syria, Turkey, and Iran, known as one of the cradles of civilization where writing, agriculture, and cities first arose.

Palace At Knossos

An archaeological site on the island of Crete, considered Europe’s oldest city, and the ceremonial and political center of the Minoan civilization.

Minotaur

The mythical beast, half man and half bull, that inhabited the labyrinth of the Minoan palace at Knossos.