Which of the Following Describes a Characteristic of a Perfectly

question 113

Multiple Choice

Which of the following describes a characteristic of a perfectly competitive market?

• A)There are many buyers but few sellers.
• B)There are many sellers but few buyers.
• C)There are many buyers and sellers.
• D)Equilibrium is achieved when demand for the product sold in the market equals the supply.

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Definitions:

Labor Unions

Organizations formed by workers to protect their rights and interests, typically focusing on issues related to wages, working conditions, and labor laws.

Workforce Unionized

A Workforce Unionized is one where a majority of workers are members of a labor union, which represents their interests in negotiating with employers.

Industrial Nations

Countries characterized by a significant level of industrialization, with a substantial portion of the economy dedicated to the production and distribution of goods and services through industrial enterprises.

Labor Unions

Organizations formed by workers from related fields that work for the collective bargaining of wages, benefits, working conditions for their membership, and engaging in negotiations with employers.