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Market Integration and Single Price in a Market Quiz

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Market Integration and Single Price in a Market Quiz

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Questions and Answers

What is the primary purpose of market integration?

To eliminate price differences between countries (correct)
To create distinct markets for different products
To increase trade barriers and costs
To promote market competition and diversification

Which of the following is NOT a factor affecting trade costs?

The advantage of price differences between markets (correct)
New product development and pricing
Man-made trade barriers and regulations
The availability of cheaper transportation options

In a single integrated market, what determines the price of a commodity?

The cost of transportation and logistics
The availability of substitutes and competitors
The bargaining power of individual sellers
The movement of sellers and equalization of prices (correct)

What is the primary purpose of horizontal market integration?

To reduce competition and increase market share (C) Signup and view all the answers

Which of the following is NOT an effect of horizontal market integration?

Diversification of product offerings and market segments (A) Signup and view all the answers

When is it economical to move stocks from one market to another?

When transportation costs are high (A) Signup and view all the answers

What is the MAIN definition of vertical integration according to the text?

When a firm performs more than one activity in the marketing process under a single ownership (C) Signup and view all the answers

What is the main difference between forward and backward integration according to the text?

Forward integration involves assuming a function closer to the consumption end, while backward integration involves combining the source of supply (D) Signup and view all the answers

What is the MAIN definition of conglomeration according to the text?

A combination of agencies or activities not directly related to each other under unified management (A) Signup and view all the answers

Which of the following is NOT listed as an effect of conglomeration according to the text?

Acquisition of financial leverage (A) Signup and view all the answers