Market Structures

Factors that make it difficult for new firms to enter a market are called

• Barriers to entry
• Factors of production
• Limited supply
• Monopolistic Outlook

What prevents firms from entering a monopoly?

• Barriers to Entry

• Technology

• Price

• Barriers to Travel

Businesses can "Collude" or work together to set prices

• Oligopoly
• Monopoly
• Perfect Competition

Choose the example that goes best with an oligopoly.

• apples
• cell phone providers
• utilities
• clothing

Which of the following industries is an example of a monopoly?

• utilities/water

• department stores

• auto industry

• commercial airlines

The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)

• monopoly
• oligopoly
• perfect competition
• monopolistic competition

A market that has a few sellers of basically the same goods.

• Perfect Competition

• Pure Monopoly

• Monopolistic Competition

• Oligopoly

Public utilities are an example.

• Perfect Competition

• Natural Monopoly

• Monopolistic Competition

• Oligopoly

In this market, the producer is the least responsive to buyers' needs and wants.

• Perfect Competition

• Pure Monopoly

• Monopolistic Competition

• Oligopoly

Which type of market structures has many producers (companies) and sell similar but different products from each other? These companies have a little control over the price and there are relatively low barriers to entry.

• perfect competition

• monopolistic competition

• oligopoly

• monopoly