Elmer's Glue Has Captured the Market for School Glue

question 2

Multiple Choice

Elmer's Glue has captured the market for school glue.It is preferred by both students and parents alike.It takes very little capitalization to enter the market,but nobody succeeds in doing so.The glue clearly needs no patents or secret formulas.This type of market is called a(n)

• A)pure or perfect competition.
• B)oligopoly.
• C)monopolistic competition.
• D)monopoly.

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Definitions:

Negotiability

The feature of a financial instrument that allows it to be transferred or assigned from one party to another with the legal ownership and benefits passing to the transferee.

Check

A documented, signed, and dated directive that instructs a bank to pay a predetermined amount of money to the bearer or a specified individual.

Indorsement

A rephrased definition: The act of signing one's name on the back of a negotiable instrument, effectively transferring rights to another party.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the ability to be transferred to another party.