Understanding Market Types in UAE

Which of the following is a characteristic of perfect competition?

• Few sellers

• Homogeneous products

• Price makers

• High barriers to entry

Which company is an example of a monopoly in the UAE?

• Emirates Airlines

• Etisalat

• Carrefour

• Dubai Mall

What is a key feature of an oligopoly market?

• Many small firms

• No barriers to entry

• Interdependence among firms

• Unique products

Which of the following best explains monopolistic competition?

• A single seller dominates the market

• Firms sell identical products

• Many firms sell differentiated products

• High barriers to entry

In an oligopoly, how is the price typically set?

• By a single firm

• Through government regulation

• By collusion among firms

• By consumer demand

How does perfect competition impact consumers?

• Higher prices due to lack of competition

• Limited product choices

• Lower prices and more choices

• Decreased product quality

Which of the following is NOT a characteristic of a monopoly?

• Single seller

• High barriers to entry

• Price takers

• Unique product

What is a common outcome of competition in a monopolistic competition market?

• Standardized products

• Price wars

• Product differentiation

• Single price for all products

Which of the following is a potential disadvantage of oligopolies for consumers?

• Increased innovation

• Lower prices

• Limited choices

• High product quality

In the context of the UAE, which sector is most likely to be an oligopoly?

• Telecommunications

• Agriculture

• Retail

• Real estate