IMPERFECT MARKETS

The nature of a product under conditions of monopolistic competition is …?

• Homogenous

• Differentiated

• Static

• Environmental friendly

Businesses in the same industry coming to an agreement to determine quantities and prices is known as a/an…?

• Agreement

• Cartel

• Duopoly

• Management

**** is when one or more firms has significant control in the market.

• Market dominance

• Decision making

• Control

• Governance

A market structure where only a few sellers operate is …?

• Perfect market

• Monopoly

• Perfect competition

• Oligopoly

Eskom is an example of a …?

• Perfect market

• Monopoly

• Perfect competition

• Oligopoly