UNIT 3 EXAM

Front

Which market structure has the most sellers?

Back

Perfect Competition

Front

If a town has only one gas station, what type of legal monopoly is this?

Back

Geographical

Front

Which of these types of structures has the highest profits? Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly

Back

Monopoly

Front

5 cell phone makers control about 85% of the market for cell phones. What market structure is this?

Back

Oligopoly

Front

Which type of business has one sole owner that takes on all the liabilities as well as the assets for the business?

Back

Sole Proprietorship

Front

A worker decides to quit his job at Target to work at Home Depot. Which type of Unemployment is this?

Back

Frictional

Front

If a person gets a patent on a product, that product is in which type of monopoly?

Back

Technological

Front

Which type of business is a company leasing a successful business model that is already established?

Back

Franchise

Front

What is it called when the prices in an economy fall?

Back

deflation

Front

How many firms are there in a perfect competition?

Back

Many