economic market types

In monopoly, the firm and industry are synonymous. No _____________

is observed

In oligopoly, the ______________ is difficult and huge capital

investments are needed to penetrate the market.

Which of the following is the least competitive market structure?

• Perfect competition

• Monopolistic competition

• Oligopoly

• Monopoly

What is the best example of specialisation?

• a diversified engineering company

• a general repairs handyman

• a self-sufficient, non-trading country

• an old person’s helper and care assistant

The money or other benefits lost when pursuing a particular course of action instead of a mutually-exclusive alternative.

• Opportunity Cost

• Profit

• Trickle Down Effect

• Tariffs

A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

• income

• profit

• loss

• expenditure

Which does not belong to the group of market structures?

• Monopoly

• Oligopoly

• Perfect Competition

• Market Competition

Private multinational clothing companies operate in developing countries to reduce their average costs of production.

Which feature of developing countries attracts them for this purpose?

• In developing countries, clothing workers receive low wages.

• In developing countries, foreign managers are allowed to pay no income tax.

• In developing countries, multinationals are allowed to take profits out of the country.

• In developing countries, there is a large market for fashion clothing.

If ABM firm sells its output in a market, with many sellers and buyers of

homogeneous product, and unlimited resource mobility, the structures is a/an

• monopolist

• oligopolist

• perfect competitor

• monopolistic competitor

Market Power is

• The electricity that runs the lights of a market.

• The group that controls the market, usually the mafia.

• The ability of a business to set or control the price at which it sells goods.

• A boy band from the 1980s.