Pamilihan at Estruktura ng Pamilihan

What is a market?

• A place that shows organized transactions between buyers and sellers.

• A type of competition.

• A government regulation.

• A type of product.

What are the two types of markets?

• Perfect Competition and Imperfect Competition.

• Monopoly and Monopsony.

• Oligopoly and Monopolistic Competition.

• All of the above.

What is Perfect Competition?

• Many buyers and sellers of a product.

• Identical products.

• Sufficient knowledge and information.

• All of the above.

What is a monopoly?

• One producer.

• Ability to block competitors.

• No close substitutes.

• All of the above.

What is a monopsony?

• Opposite of monopoly.

• One buyer.

• Government and military.

• All of the above.

What is oligopoly?

• Collusion.

• Similar reactions.

• Not competing on price.

• All of the above.

What is Monopolistic Competition?

• Perfect competition and monopoly.

• Government intervention.

• Price control.

• All of the above.

What is price control?

• Implemented during crises.

• Price ceiling.

• Price floor.

• All of the above.