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What are the three main types of market structures?

• Perfect competition, monopoly, and oligopoly

• Supply, demand, and price

• Buyers, sellers, and producers

• Imports, exports, and tariffs

Which market structure has many sellers offering identical products?

• Monopoly

• Oligopoly

• Perfect competition

• Monopsony

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

• Carrefour

• Noon.com

• Dubai Metro

• Apple

What happens when there is only one seller in the market?

• Prices decrease due to competition

• Consumers have more choices

• The company has full control over prices

• More companies enter the market

Oligopoly is best described as:

• A market with a single seller

• A market with many small businesses competing

• A market dominated by a few large firms

• A market where firms cannot control prices

Which sector in the UAE is characterized by a few dominant firms controlling the market?

• Electricity generation

• Banking

• Retail

• Food delivery services

What is the primary advantage of perfect competition?

• High barriers to entry

• Prices remain low due to competition

• Only a few firms dominate

• Government control over prices

Which company is an example of an online marketplace competing through discounts?

• Emirates Airlines

• Noon.com

• Carrefour stores

• DEWA

Which factor is most important in a monopoly?

• High competition

• Consumer choice

• Control over supply and price

• Multiple firms competing

What is a disadvantage of monopolies?

• More competition

• Higher prices for consumers

• Greater variety of products

• Government intervention