Which of the Following Statements Is True About a Competitive

question 253

Multiple Choice

Which of the following statements is true about a competitive market? A competitive market

• A) must have a physical location.
• B) includes markets for goods and services but not for inputs.
• C) has so many buyers and sellers that no one can influence the price.
• D) has one seller competing to sell his or her product.
• E) has a handful of sellers but always has many buyers.

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Definitions:

Motives

Internal drives or reasons that prompt individuals to act in certain ways.

Self-Fulfilling Prophecies

Predictions that directly or indirectly cause themselves to become true, due to positive feedback between belief and behavior.

Educational Settings

This term denotes places or contexts where formal learning, teaching, and educational activities occur, such as schools, colleges, and universities.

First Impressions

The initial thoughts or judgments formed about a person upon meeting them for the first time.