4.7 ECON - Market Structures

Different types of market structures exist because some _______ are more efficiently produced with more or less producers.

• consumers

• products

Perfect Competition exists in markets where producers are all making:

• different products.

• the same product.

An Oligopoly is a market where a few producers create similar products because it is ____ for other companies to compete against them.

• too easy

• too expensive

Antitrust laws are government policies & rules to create _______ competition in a market.

• more

• less

• equal

The government uses Antitrust laws to ________ monopolies.

• break-up or divide

• hold together

• perfect

Antitrust laws also ________ the power of cartels from colluding to control prices.

• limit

• increase

A cartel is an organization that forms to monitor and ________ the prices of goods or services in a market

• limit

• control

Barriers to entry are anything that prevents another company from being able to enter and ______ in a market.

• compete

• control

When the government tried to regulate a market, it often causes that market to become more ______.

• inefficient

• efficient

Through deregulation, a market will become more ____.

• inefficient

• efficient