Describe the three types of environments in which markets operate
What will be an ideal response?
The three types of environments are fragmented markets, seller-concentrated markets, and buyer-concentrated markets. Fragmented markets have large numbers of buyers and sellers. In seller-concentrated markets, several large companies sell to a large number of buyers. In buyer-concentrated markets, several large companies buy from a large number of suppliers.
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Which of the following is the best example of the rights ethic in action?
A. Do yielded the right of way to Tran when Tran was trying to turn right on to Nutwood Avenue to leave CSUF. B. "Your right to swing your fist ends where my nose begins." C. Heen, a business owner, decided to reduce all employees' pay by 10% instead of terminating the employment of some of her employees. D. Smith agreed to teach three nights per week to help the school even though it would deprive him of time with his family.
Antidumping laws enable formal institutions to affect international competition
Indicate whether the statement is true or false