A Market Is Competitive If Which of the Following Are

question 156

Multiple Choice

A market is competitive if which of the following are true? (i) each buyer is small compared to the market
(ii) a single firm has a significant impact on the market price
(iii) the good offered for sale is largely the same

• A) (i) and (ii) only
• B) (ii) and (iii) only
• C) (i) and (iii) only
• D) (i), (ii) and (iii)

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Definitions:

Fulfilling Aspects

Elements or characteristics of an activity or experience that provide satisfaction or a sense of achievement.

Biological Perspective

An approach in psychology focusing on the role of biological processes and structures, including genetics and neurochemistry, in influencing behavior and mental processes.

Psychological Disorders

Mental disorders characterized by patterns of behavior, thought, or emotions that are significantly disruptive or harmful to oneself or others.

Brain Chemistry

The complex interplay of chemicals and neurotransmitters in the brain that affects mood, behavior, and cognitive functions.