A Competitive Market Is One in Which There

question 46

Multiple Choice

A competitive market is one in which there

• A)is only one seller,but there are many buyers.
• B)are many sellers,and each seller has the ability to set the price of his product.
• C)are many sellers,and they compete with one another in such a way that some sellers are always being forced out of the market.
• D)are so many buyers and so many sellers that each has a negligible impact on the price of the product.

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Definitions:

Motive

An inner drive or reason that causes a person to act in a certain way or pursue particular goals.

Life Position

A concept from transactional analysis that describes an individual's general attitude towards life and others, which can significantly influence their interactions and relationships.

Social Comparison

The process of evaluating oneself based on comparison with others, influential in shaping self-esteem and social identity.

Positive Face

represents a person's desire to be liked, admired, and respected in their social interactions.