
Unit 2 - Chapters 5,6,7 Hency
Flashcard
•
Social Studies
•
11th - 12th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
Non-price competition is the use of ads, giveaways, or promotions to win customers
Back
True
2.
FLASHCARD QUESTION
Front
In which market structure is there the LEAST competition?
Back
Monopoly
3.
FLASHCARD QUESTION
Front
In which market structure is there the MOST competition? Options: Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
Back
Perfect Competition
4.
FLASHCARD QUESTION
Front
Which type of market structures has very few producers(companies) that control the majority of the market? Hint: think of the soda market
Back
oligopoly
5.
FLASHCARD QUESTION
Front
The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)
Back
monopolistic competition
6.
FLASHCARD QUESTION
Front
Factors that make it difficult for new firms to enter a market are called
Back
Barriers to entry
7.
FLASHCARD QUESTION
Front
Choose the example that goes best with an oligopoly: apples, cell phone providers, utilities, clothing
Back
cell phone providers
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