What is a competitive market?
A) a market in which goods have a different ask price and bid price
B) a market in which a good can be bought and sold at the same price
C) a market in which a good is sold at a lower price than that for which it can be bought
D) a market in which a good is bought for a lower price than that for which it can be sold
Answer: B
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Higher volume in a process is generally associated with:
A) more resource flexibility. B) more capital intensity. C) greater customer involvement. D) fewer opportunities for standardization.
If you put $200 in a savings account at the beginning of each year for 10 years and then allow the account to compound for an additional 10 years, how much will be in the account at the end of the 20th year?
Assume that the account earns 10%, and round to the nearest $10. A) $8,300 B) $9,100 C) $8,900 D) $9,700