CIPS Exam L4M6 Topic 3 Question 34 Discussion

Actual exam question for CIPS's L4M6 exam

Question #: 34
Topic #: 3

[All L4M6 Questions]

Which of the following statements are true of a market place which is considered a 'perfect competition'? Select TWO.

Athere are no barriers to entry

Bsuppliers are selling differentiated products

Ccompetition is at its highest level possible

Dcompetition is not strong

Show Suggested Answer

Suggested Answer: A

This is an example of poor-communication. The information was not passed from the person who signed the contract to the staff on site who were to do the cleaning. See p.158 on communication issues.

by Felix at Mar 07, 2024, 11:21 PM

Limited Time Offer

25%

Off

Get Premium L4M6 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Adolph

9 hours ago

I agree with Hershel. B and D are clearly not true of a perfect competition market.

upvoted 0 times

...

Paulina

13 days ago

I'm not sure about C. I think it's A and D because in perfect competition, suppliers sell identical products.

upvoted 0 times

...

Hershel

18 days ago

A and C seem to be the correct answers here. No barriers to entry and competition at its highest level - that's the definition of perfect competition.

upvoted 0 times

...

Marlon

19 days ago

I agree with Alton. In perfect competition, there should be no barriers to entry and competition should be at its highest level.

upvoted 0 times

...

Alton

21 days ago

I think A and C are true.

upvoted 0 times

...