Which of the Following Is NOT a Characteristic of Perfect

question 351

Multiple Choice

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

• A) There are many buyers and sellers.
• B) Each firm determines the market price of its product.
• C) Products are homogeneous.
• D) Buyers and sellers have equal access to information.

---

Definitions:

External Forces

Events, conditions, or factors outside an organization that can affect its performance and operational success.

Touch Labour

Labor directly involved in the manufacturing or assembly of products, as opposed to indirect labor roles such as supervision or management.

Knowledge Workers

Individuals whose primary job involves the creation, manipulation, and management of information.

Downsizing

Planned elimination of jobs