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Ulleksa [173]
2 years ago
11

Which of the following are the characteristics of a competitive market? (Check all that apply.)

Business
1 answer:
kakasveta [241]2 years ago
5 0

A competitive market refers to a market where there is no monopoly of producers of goods and services, therefore, competition is high because they all have mission to satisfy the wants of a large consumers.

The characteristics of a competitive market are:

  • Homogeneity of product: The product are made by different producers and encourages competition.
  • There are existence of many buyers and sellers in the market.
  • There is an access to derive perfect information on price of a product at any outlet in the market.
  • There are no charges for transaction costs in a competitive market
  • No barriers to entry into or exit.

In conclusion, there is no producers which can affect the market price through its supplying rate because there are excess supply of similar product in the market.

Learn more about competitive market here

<em>brainly.com/question/7024827</em>

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Amble Inc. exchanged a truck with a book value of $12,000 and a fair value of $20,000 for a truck and $5,000 cash. The exchange
anygoal [31]

Answer:

$20,000

Explanation:

Based on the information given about Amble Inc the amount that Amble should record the truck received should be $20,000 because the book value is the amount of $12,000.

Secondly since we were told that the exchange has commercial substance which means that the amount of $20,000 which is the fair value of the truck which the buyer is willing to buy from the seller should be the amount that Amble should record the truck received .

Therefore Amble should record the truck received at the amount of $20,000

3 0
3 years ago
What is the spirit behind the Federal Sentencing Guidelines for Organizations?
nikitadnepr [17]

Answer:

The spirit behind Federal Sentencing Guidelines for organizations is that:  Legal violations can be prevented through organizational values and a commitment to ethical conduct.

Explanation:

In 1991, under Sentencing Reform Act, there was an extension. According to this, Sentencing Commission  of the United States submitted 'Federal Sentencing Guidelines for Organizations' (FSGO) to the Congress. These are a set of standards that govern what would be the sentences federal judges could impose on the organizations in case there are any federal crimes committed.

The main purpose of these guidelines is that it streamlines sentencing and punishment in case there are organizational crimes. It holds companies and employees responsible for any misconduct in the organization. So, the spirit of these guidelines is that it would prevent any legal violations in the organization and prevent any violation to ethical conduct.

5 0
3 years ago
Almost 80% of business owners are clueless about the competition, resulting in
Lesechka [4]

Answer:

The correct answer would be lost market share and customers.

Explanation:

When companies start their business and their business starts to boom, they usually get busy in making their products better and better and usually forget to keep an active eye on the competition they have in the markets. Almost 80% of the business owners are clueless about the competition. Due to this negligence, companies start to loose their market share as well as the customers, because they don't have idea about what their competitors have introduced in the market and what strategies they have used to compete in the market.

6 0
3 years ago
Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound
Pepsi [2]

Answer:

The correct answer is B

Explanation:

Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.

The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.

So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.

6 0
3 years ago
In a department meeting, Javier shares some research on new software he thinks the company should purchase. Roger agrees with Ja
nirvana33 [79]

Answer:

Elaborator is the correct answer.

Explanation:

In this example, Roger takes Javier's initial idea, which includes the suggestion of buying new necessary software for the company. Roger fits the description of an elaborator, who builds examples (Roger's own experience with the software and how it'd be the best option) based on initial ideas (Javier's suggestion).

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