1. Markets and competition Identical products, as well as a large number of buyers and sellers, are characteristics of a perfectly competitive market. In such markets, sellers of goodscan influence the prevailing market price, giving them the role of price takers in the market. True or False: The market for digital cable does not exhibit the two primary characteristics that define perfectly competitive markets. True False

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?