Solution Library

What Is The Characteristic Of Perfectly Free Economy

Question

1. In the ADM case, what did ADM and the other companies do to fix the market prices for lysine?

a. They bullied the buyers into accepting a specific price.

b. They agreed on the price for which the companies sold the product, and they agreed on limits of production

c. They each agreed to produce only a certain amount of lysine per year.

d. They agreed on the price for which the companies would sell the product, but they were free to produce as much as they liked.

 

2. Which of the following is a characteristic of a perfectly free economy?

a. There are only a few buyers and sellers who have a substantial share of the market.

b. Goods being sold in the market are extremely similar to one another.

c. The government regulates prices of goods being bought and sold in the market.

d. None of the above

 

Summary

These multiple choice questions belong to Economics. The 1st question discusses about ADM case and what ADM and other companies do to fix market prices for lysine and the 2nd question discusses about the characteristic of a perfectly free economy.

Total Word Count NA

Download Full Solution

Comments

  • HWA
    Rasha

    this is a very good website

  • HWA
    maani

    I have 50 questions for the same test your page is showing only 28

  • HWA
    joeanne

    hi can you please help or guide me to answer my assignments. thanks

  • HWA
    joeanne

    hi can anyone help or guide me to my assignments. thanks

  • HWA
    Monik


  • HWA
    Cristina

    This solution is perfect ...thanks

  • HWA
    Janete

    Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

  • HWA
    Sandeep

    Perfect bank of solution. 

  • HWA
    Oxana

    great !

  • HWA
    Paul Brandon-Fritzius

    thanks for the quick response. the solution looks good. :)

  • HWA
    tina Johnson

    thnx for the answer. it was perfect. just the way i wanted it. 

  • HWA
    Giuseppe

    works fine.