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Peregrine Exam Day 8 Questions And Answers With Verified Solutions Already Passed!!!
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Peregrine Exam Day 8 Questions And Answers With Verified Solutions Already Passed!!
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Peregrine Exam Day 8 Questions AndAnswers With Verified Solutions Already
Passed!!!
competitive market - ANSWER✔✔ a market in which there are many buyers and
many sellers so that each has a negligible impact on the market price
Monopoly - ANSWER✔✔ A market in which there are many buyers but only one
seller.
monopolistic competition - ANSWER✔✔ a market structure in which many
companies sell products that are similar but not identical
Oligopoly - ANSWER✔✔ A market structure in which a few large firms dominate a
market
perfect competition - ANSWER✔✔ a market structure in which a large number of
firms all produce the same product
land - ANSWER✔✔ all natural resources used to produce goods and services
labor - ANSWER✔✔ Human effort directed toward producing goods and services
Capital - ANSWER✔✔ An economic system based on private ownership of capital
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