The "Discovery" of Quilts Crafted by the African American Women

question 11

Multiple Choice

The "discovery" of quilts crafted by the African American women of Gee's Bend,Alabama,did not make them more _______ but it did label them ___________.

• A)valuable;rare
• B)special;art
• C)unique;common
• D)exotic;unique

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Definitions:

Perfect Competitor

A perfect competitor operates in a market where no single buyer or seller has the power to influence prices, and where information, resources, and products are freely and openly available to all.

Imperfect Competitor

A market participant that does not fulfill the criteria of a perfect competitor, often having some control over price or product differentiation.

Perfect Competitor

A market participant that cannot influence the market price and takes it as given because the market is characterized by many buyers and sellers, free entry and exit, and a homogeneous product.

Imperfect Competitor

A firm or entity in a market structure that does not meet the conditions of perfect competition, often possessing some control over its products' prices.