Examlex
A(n) _____ offers prizes based on entrants' skill whereas a(n) _____ offers prizes based solely on a chance drawing of entrants' names.
Market Supply
The total amount of a specific good or service that is available for purchase in a given market at various prices, over a specified period.
Market Demand
The overall amount of a product or service that every consumer in a market is ready and capable of buying at different price levels.
Competitive Market
A commercial system where numerous buyers and sellers exist, preventing any single party from setting the price.
Cost Structure
The composition of fixed and variable costs that a business or project incurs during its operations, highlighting how different expenses affect the total cost and profitability.
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