Examlex
If the CPI changes from 125 to 120 between 2017 and 2018,how did prices change between 2017 and 2018?
Quality
The standard of something as measured against other similar things; a degree or level of excellence.
Perfect Competition
A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, leading to price-taking behavior.
Standardized Product
Output of different producers regarded by consumers as the same good; also referred to as a commodity.
Easy Entry And Exit
Characteristics of a market where companies can freely enter or leave without significant barriers or costs.
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