Economics: Market Structures Flashcard

Front

Which of the following is NOT a Market Structure? Perfect Competition, Oligopoly, Monopoly, Corporation

Back

Corporation

Front

Which market structure involves selling identical products?

Back

Perfect Competition

Front

Which market structure did John D. Rockefeller's Oil industry fall under?

Back

Monopoly

Front

Which law bans monopolies? Options: Tea Act, Anti-Trust Act, Townsend Act, Monopoly Act

Back

Anti-Trust Act

Front

Using the pizza store graphic, what market structure best fits the pizza industry?

Back

Monopolistic competition

Front

____________ for ice cream will _____________ when the weather is cold.

Back

Demand, decrease

Front

As the price goes up, what happens to the quantity demanded?

Back

Decreases

Front

The Denver housing market is hot right now; there is a ____________ demand, which leads to _________ supply. This is an example of a seller's market.

Back

high, low

Front

Markets like automobiles, cell phones, cable TV, and internet providers are examples of which market structure?

Back

Oligopoly