Market Structures

Front

Market structure with many buyers and sellers.

Back

pure/perfect competition

Front

Their is only one supplier in this market structure.

Back

monopoly

Front

Which structure uses differentiation to make its products unique?

Back

monopolistic competition

Front

Differentiation is _________________

Back

small differences that make your product unique.

Front

The farmers' market is an example of _______________.

Back

a purely/perfectly competitive market.

Front

Airlines are examples of _________________.

Back

oligopolies.

Front

Monopolies can control the price of a product because ______.

Back

They have a unique product.

Front

Which is NOT an example of non-price competition? Options: location, service level, advertising, status

Back

bargaining

Front

Oligopolies and monopolies are the same because ________.

Back

They both have high barriers to entry.

Front

Pure / perfect competition and monopolistic competition are the same because _____________.

Back

They have many buyers.