Which of the Following Characteristics of a Farmers' Market Makes

question 66

Multiple Choice

Which of the following characteristics of a farmers' market makes it a good example of a perfectly competitive market?

• A) Selling product at a farmers' market was very profitable for farmers in the early 2000s. As result, many farmers sold their farms to larger firms.
• B) Farmers who sell product at a farmers' market are similar to other entrepreneurs who introduce products that earn short-run profits but invite competition that drives down prices and profits in the long run.
• C) Farmers who sell product at a farmers' market are similar to other business owners who take advantage of the willingness of some consumers to pay high prices for new and different products.
• D) Farmers selling product at a farmers' market provide a product that is a necessity, rather than a luxury.

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Definitions:

Classical Conditioning

A simple form of learning in which one stimulus comes to bring forth the response usually brought forth by a second stimulus by being paired repeatedly with the second stimulus.

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Passive Learning

A learning style where the learner receives information without actively engaging or interacting with the material.

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