Which of the Following Characteristics of Competitive Markets Is Necessary

question 417

Multiple Choice

Which of the following characteristics of competitive markets is necessary for firms to be price takers? (i)
There are many sellers.
(ii)
Firms can freely enter or exit the market.
(iii)
Goods offered for sale are largely the same.

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

Distinguish between different perceptual organization principles formulated by Gestalt psychologists.

Explain the concept of figure-ground perception and its significance.

Identify and describe different gestalt grouping factors and their application.

Understand the distinction between sensation and perception.

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Definitions:

Sensitization

The process by which repeated exposure to a stimulus results in an enhanced response at a physiological or cellular level.

Respiratory System

A biological system consisting of specific organs and structures used for gas exchange in animals and plants.

Allergic Responses

The body's immune system reacting negatively to certain substances, causing symptoms like itching, swelling, or sneezing.

Occupational Safety

Refers to the practice and field of protecting the health and well-being of employees in the workplace.