Which of the Following Is NOT a Characteristic of Perfect

question 161

Multiple Choice

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

• A) There are large numbers of buyers and sellers.
• B) The firms in an industry produce goods that are different from each other.
• C) Any firm can easily enter or leave the industry.
• D) Both buyers and sellers have equally good information.

Learn how to apply mathematical operations and functions in query criteria and calculations.

Understand the basic principles of accounting information systems.

Recognize the importance and role of input devices and source documents in accounting systems.

Identify the use and purpose of various journals and ledgers in accounting systems.

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Definitions:

Pollution Control Technology

Systems, devices, or practices designed to reduce, eliminate, or manage pollutants emanating from human activity to protect the environment.

Chemical Waste

Hazardous substances produced as byproducts of manufacturing processes, laboratory experiments, or other industrial activities, requiring careful disposal to prevent environmental damage.

Oil Pollution Act

A law enacted in the United States aimed at preventing and responding to catastrophic oil spills, including the establishment of liabilities and penalties.

Discharges

Refers to the release, disposal, or emission of substances, particularly pollutants into the environment; also can refer to the fulfillment or cancellation of a financial obligation.