Market Structures

One business is in complete control of the market

• Monopoly
• Oligopoly
• Perfect competition
• Monopolistic competition

A structure with a small number of businesses selling the same or similar products

• Monopoly
• Oligopoly
• Perfect competition
• Monopolistic competition

a large number businesses selling similar but different products at different prices

• Monopoly
• Oligopoly
• Perfect competition
• Monopolistic competition

a large number of businesses selling the same products at the same price

• Perfect competition
• Monopoly
• Oligopoly
• Monopolistic competition

when a lower price is the main reason for customers to buy from one business over another

• price war

• price competiion

• nonprice competition

• all of these answers

an advantage of better service and convenient store hours

• price competition

• customer service

• nonprice competition

• pure competition