Which of the Following Is NOT a Characteristic of Competitive

question 2

Multiple Choice

Which of the following is NOT a characteristic of competitive markets?

• A)standardized product
• B)purchases and sales of individual traders are small relative to the total volume traded
• C)prices adjust quickly
• D)there are relatively few sellers

---

Definitions:

Social Facilitation

The tendency for individuals to perform better on simple or well-learned tasks in the presence of others.

Simple Tasks

Tasks that require a minimal cognitive load and can be performed with little to no mental effort, often involving routine actions or straightforward instructions.

Collective Tasks

Activities or responsibilities that require the cooperative effort and participation of a group of individuals to achieve a common goal.

Personal Control

The perceived degree of influence an individual has over their environment and decisions affecting their life.