MARKET STRUCTURES

Perfect competition markets would have the highest barriers to entry.

• TRUE

• FALSE

A monopoly is characterized by having no substitutable goods.

• TRUE

• FALSE

Advertising and innovation are non-price competition strategies most common in perfect competition markets.

• TRUE

• FALSE

Oligopolistic markets would often be under close monitoring by the government to prevent collusion.

• TRUE

• FALSE

In perfect competition markets, products are perfectly substitutable for each other.

• TRUE

• FALSE

The worldwide market structure for cars most resembles a:

• monopolistic competition

• oligopoly

• perfect competition

• monopol

The market structure for private aerospace travel would most resemble a:

• Monopolistic competition

• Oligopoly

• Monopoly

• Perfect Competition

Which of the following businesses most resembles a perfect competition market structure?

• Sari-sari Store

• Airline companies

• Electric company

• Telecommunication Company

Which of the following has a natural monopoly in Aklan, for example?

• Sari-sari Store

• Globe

• Akelco

• Jollibee