Multiple Choice
Competition is more likely to exist when:
A) There is easy entry into and exit out of industries
B) A government-issued license is required to set up a firm in an industry
C) The government purchases most goods and services
D) Economic power is concentrated among a few large firms
Correct Answer:
Verified
Correct Answer:
Verified
Q115: The distribution of income in a market
Q116: Which of the following is assumed to
Q117: A production system where various workers concentrate
Q118: In a capitalist system, the decisions and
Q120: The market system is an economic system
Q121: Which is an example of barter?<br>A) A
Q122: In a market system, as one industry
Q123: One basic problem faced by central planners,
Q124: How does human specialization contribute towards increasing
Q127: In a command economy, the head of