MGT100 - Competition
Flashcard
•
Fun
•
12th Grade
•
Practice Problem
•
Hard
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5 questions
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1.
FLASHCARD QUESTION
Front
Rivalry among businesses for sales to potential customers
Back
competition
2.
FLASHCARD QUESTION
Front
Quantity of a product that buyers are willing to purchase at each various price.
Back
demand
3.
FLASHCARD QUESTION
Front
a market situation with only a few major sellers.
Back
oligopoly
4.
FLASHCARD QUESTION
Front
Legal market structure that requires huge investments in capital that would be wasteful and not good for public interest
Back
natural monopoly
5.
FLASHCARD QUESTION
Front
Market situation with many buyers and sellers that have no power to affect price
Back
perfect competition
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