Answer:
standardized good, full information, no transactions costs, participants are price takers.
Explanation:
Perfectly competitive markets are theoretical, because even commodities' markets (e.g. corn, oil, etc.) do not comply 100% with all the characteristics of a perfectly competitive market, but are close enough to consider them as such.
The 5 characteristics of perfectly competitive markets are:
- Many participants (many buyers and sellers)
- Standardized goods or services
- Zero transaction costs
- No barriers to entry
- All participants can access perfect information
As I said before, no market complies 100% with these requirements, but some commodities' markets get close enough, but even there:
- commodity traders charge a transaction fee
- capital is a great barrier to entry that cannot be eliminated, e.g. it costs millions to drill and sell oil
- not all participants will be able to access perfect information
The Right Response is Option B
b) Borderless World
Today's companies compete in a <u>borderless world.</u>
- The process of contact and integration between individuals, organisations, and governments on a global scale is known as globalisation or globalisation. Since the 18th century, globalisation has increased due to advancements in communications and transportation technologies.
<h3><u>What effects has globalisation had?</u></h3>
- Globalization often lowers the cost of production. This implies that businesses may charge customers less for their products. One important factor that raises the level of life is the average cost of commodities. Additionally, consumers have access to a greater range of items.
To Learn more about Globalization, click the Links.
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If japanese autos surge in popularity in the united states, then this event is most likely to cause the japanese yen to appreciate and the U.S dollar to depreciate.
<h3>What are the automotive industries in the Japan?</h3>
The automotive industry in Japan is considered as one of the most prominent and largest industries in the world. It is a major pillar of the country's economy.
Some of the major Japanese automotive manufacturers include Toyota, Nissan, Mazda, Subaru, Mitsubishi, Honda, Suzuki, Isuzu, Daihatsu, and Mitsuoka.
Basically, the automotive sector in Japan is the third-largest automotive producing industry in the world.
Learn more about automotive industries in Japan here:
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<span>The United States accounts for 20 percent of the world's pesticide use. The farmer is noticing that the pesticide application is less effective because d) the target species has begun to evolve resistance. A is not correct because bioaccumulation would create a greater concentration of the pesticide. B is not correct because the pesticide was selective since the first application. C is not correct because applying less will not prevent the pesto from harming the crop.</span>
