ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Perfect competition
|
|
|
Monopolistic competition
|
|
|
Oligopoly
|
|
|
Monopoly
|
Detailed explanation-1: -A perfect example of a perfectly competitive market is that of fresh produce like vegetables and fruits. There is very little in terms of differentiation when it comes to farm produce. Only very few firms market or brand their vegetables differently as organic or perhaps some other technology tested.
Detailed explanation-2: -Markets for fruits and vegetables are usually perfectly competitive markets.
Detailed explanation-3: -Examples of Perfectly Competitive Markets: Agriculture It remains a near-perfect definition of perfect market competitiveness. For example: Many farmers grow the same crops. Their products are largely interchangeable. There are millions of buyers who all understand the product being offered.
Detailed explanation-4: -Foreign exchange markets. Here currency is all homogeneous. Agricultural markets. In some cases, there are several farmers selling identical products to the market, and many buyers. Internet related industries. 28-May-2019