economic market types

In monopoly, the firm and industry are synonymous. No (a)  

is observed

In oligopoly, the (a)   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.