econ mp2/4

When many firms produce the same good or product, that is called _____

• Perfect Competition

• Scarcity

• Equilibrium

• Supplu

Barriers to entry is when new firms and companies find it difficult to enter a market and make money

• TRUE

• FALSE

When there is no competition for a company that is the single supplier of a good, that is called what?

• Scarcity

• Barriers of Entry

• Monopoly

• Oligopoly

When there are a few firms that sell the same product and make a lot of money that is called?

• Oligopoly

• Monopoly

• Scarcity

• Banking

A partnership in economics terms means that multiple people work together to start a business or firm

• FALSE

• TRUE

Businesses owned by stockholders are called

• Corporations

• Mutual Fund

• Savings

• Private Entity

shares are...

• stocks that are issued in small amounts/portions

• not real

• scarcity

• not used in the usa