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CIPS L4M6 Exam - 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

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Juliann

7 months ago

Really? I thought there were some barriers in perfect competition.

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Stephania

8 months ago

Wait, D is just plain false! Competition is strong, not weak.

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Jessenia

8 months ago

B is wrong, products are not differentiated in perfect competition.

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Dominic

8 months ago

C is also true, competition is super high in perfect competition.

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Ashley

8 months ago

A is definitely true, no barriers to entry!

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Peggy

9 months ago

D seems wrong to me; I think perfect competition is all about strong competition, so I would rule that one out.

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Angelica

9 months ago

I feel like C could be true since perfect competition implies a high level of competition, but I’m not completely confident.

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Stephaine

9 months ago

I’m not so sure about B because I thought perfect competition meant that products are identical, not differentiated.

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Marylou

9 months ago

I remember that in perfect competition, there are no barriers to entry, so I think A is definitely one of the answers.

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Darci

9 months ago

Hmm, I'm a bit confused. I thought perfect competition meant the suppliers were selling differentiated products, not identical ones. I'll have to double-check my notes on this.

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Rosita

9 months ago

I've got this! Perfect competition means the highest level of competition possible, with many small suppliers selling identical products. So A and C are the true statements here.

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Tamie

9 months ago

Okay, let me think this through. I know perfect competition means there are no barriers to entry, so that's definitely one of the true statements. I'm not sure about the others though - I'll have to think carefully about the differences between perfect and imperfect competition.

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Alishia

9 months ago

This question seems straightforward, but I want to make sure I understand the key characteristics of perfect competition before selecting my answers.

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Victor

9 months ago

Okay, let's see. The load is 60KW and the UPS capacity is 100KVA with a 0.95 power factor. I think I can figure this out.

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Melvin

9 months ago

The JWT Bearer Flow sounds like the best option to me. It allows the third-party system to authenticate directly without involving the end-user, which meets the requirements. I feel pretty confident about this one.

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Paulina

10 months ago

Okay, let me think this through. The question is asking about the files GNU make will look for unless a different file is specified on the command line. I'm guessing the correct answers are Makefile and makefile, since those are the standard names for GNU make files.

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Billi

1 year ago

Perfect competition, where the 'competition is not strong'? Sounds more like a monopoly to me. A and C are the way to go.

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Aretha

1 year ago

Yeah, perfect competition is the opposite of a monopoly. A and C are definitely the right choices.

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Dorothea

1 year ago

I agree, in perfect competition, there are no barriers to entry and all products are identical. So A and C make sense.

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Sarina

1 year ago

I think A and C are correct. Perfect competition is all about many buyers and sellers with no single entity having control over the market.

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Kenneth

1 year ago

Haha, 'competition is not strong'? That's the complete opposite of perfect competition! I'm going with A and C for sure.

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Rolland

1 year ago

User 2: I agree, and I think C is true too because competition is at its highest level possible.

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Burma

1 year ago

User 1: I think A is true because there are no barriers to entry.

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Adolph

1 year ago

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

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Paulina

1 year ago

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

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Hershel

1 year 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.

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Suzi

1 year ago

Suppliers selling differentiated products would not be a characteristic of perfect competition.

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Ivory

1 year ago

Competition is definitely at its highest level in perfect competition.

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Clay

1 year ago

In perfect competition, there are no barriers to entry.

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Edison

1 year ago

I agree, A and C are the correct answers.

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Marlon

1 year ago

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

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Alton

1 year ago

I think A and C are true.

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