Which of the Following Is NOT a Characteristic of Perfect

question 95

Multiple Choice

Which of the following is NOT a characteristic of perfect competition?

• A) differentiated products
• B) large number of buyers and sellers
• C) price taking by each firm
• D) easy entry and exit into the market

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Definitions:

Motivated

Having a strong desire or willingness to act and achieve goals, driven by internal or external factors.

Extrinsic Rewards

Are provided by someone else.

Externally Administered

Managed or controlled by an outside entity or organization, rather than by the internal staff or resources of the primary organization.

Supervisor

An individual in charge of overseeing and guiding the work of a team or department to ensure productivity and adherence to standards.