Competitive and non competitive markets

Which is the correct spelling

• oligopolly

• oligopoly

• olligopoly

Which is a characteristic of a competitive market?

• few sellers, many buyers

• lots of buyers, few sellers

• lots of buyers and sellers

Something that prevents you starting a business

• barrier to entry

• barrier to profit

• barrier to innovate

More firms entering a market will cause the demand curve for an individuals firm to...

• shift left

• shift right

• neither

How do consumers benefit from competitive markets?

• lots of innovative products

• high prices

• lots of tax

• low prices

Consumers have less choice with competitive markets

• true

• false

Competitive markets encourage firms to be more efficient

• true

• false

Governments get lots of tax revenue from competitive markets because they earn lots of profit

• true

• false

Skilled workers, copyright, start up and capital costs right, start up and capital costs are examples of....

• competitive markets

• profit benefits

• barriers to entry

• long term assets

Which of the following is the the most competitive

• apples

• laptops

• schools