Purchases of Sodium Fluoride by Procter & Gamble for Use

question 200

Multiple Choice

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

• A)applied
• B)unitized
• C)industrial
• D)derived
• E)consumer

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Definitions:

Highly Competitive

A market structure characterized by a large number of small firms, free entry and exit, and a high level of competition where no single firm can significantly influence market prices.

Simple Indicator

A quantitative measure that can be used to gauge or describe the performance or status of a particular phenomenon.

Sellers

Individuals or entities that offer goods or services for sale to buyers in the market.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit which leads to firms selling at the market price.