In a Perfectly Competitive Market, Which of the Following Is

question 397

Multiple Choice

In a perfectly competitive market, which of the following is the main factor that affects consumers' decisions on which firm to purchase a good from?

• A) quality
• B) customer service
• C) reputation
• D) price

---

Definitions:

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture, emphasizing the idea that there is no absolute standard of right or wrong across cultures.

Results-Oriented

A focus on achieving specific goals and outcomes, emphasizing performance and accomplishment of targets.

Utilitarian View

An ethical perspective that evaluates actions based on the greatest good for the greatest number of people, emphasizing outcomes and consequences.