Market Structures Homework

Flashcard
•
Social Studies
•
11th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
This market structure is characterized by the lowest level of competition among producers.
Back
monopoly
2.
FLASHCARD QUESTION
Front
It is the most ideal market structure.
Back
perfect competition
3.
FLASHCARD QUESTION
Front
All of the following are characteristics of monopolistic competition except ___.
Back
There are many barriers to entry and exit.
4.
FLASHCARD QUESTION
Front
List the four market structures in the order from least competitive to most competitive.
Back
Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
5.
FLASHCARD QUESTION
Front
Factors that make it difficult for new firms to enter a market are called
Back
Barriers to entry
6.
FLASHCARD QUESTION
Front
An industry or market that is dominated by a few firms is
Back
an Oligopoly
7.
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
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