Market Structures

Front

In perfect competition, the product is differentiated

Back

False

Front

In monopolistic competition there are many buyers and sellers

Back

True

Front

Non-price competition is the use of ads, giveaways, or promotions to win customers

Back

True

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

Front

Factors that make it difficult for new firms to enter a market are called

Back

Barriers to entry

Front

Choose the example that goes best with an oligopoly: apples, cell phone providers, utilities, clothing

Back

cell phone providers

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

Front

A market that has a few sellers of basically the same goods.

Back

Oligopoly

Front

Public utilities are an example.

Back

Natural Monopoly

Front

If a single firm raises its price it will not be able to sell any of its output.

Back

Perfect Competition