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Perfect Competition

Authored by Jessa Solas

Business

1st - 10th Grade

Used 31+ times

Perfect Competition
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buyers and sellers act dependently.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buyers can do comparison and sellers can learn what their competitors are charging.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buyers and sellers are well-informed about market conditions

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There are government regulations in entering market.

FALSE

TRUE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price-makers are market participants that are unable to affect the market price

FALSE

TRUE

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The buyers are aware of the details of the product sold as well as its price.

FALSE

TRUE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

They take the price as decided by the forces of demand and supply

FALSE

TRUE

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