Three of these are a condition for perfect competition.
a. Many buyers and sellers participate in the market.
b. Sellers offer a wide variety of products.
c. Buyers and sellers are well informed about products.
d. Sellers are able to enter and exit the market freely.
Ans: b. Sellers offer a wide variety of products.
Economics
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Bananas, chocolate bars, chewing gum, orange juice and yogurt are considered to be ________ goods
A) service B) durable C) nondurable D) essential
Economics
In more modern times as opposed to the times of Malthus, higher standards of living appear to
A) decrease death rates and increase birth rates. B) decrease death rates and also decrease birth rates. C) decrease death rates and have no effect on birth rates. D) have had effects on neither death rates nor birth rates.
Economics