Unit 4 prep quiz

Unlimited liability

• Sole Proprietorship

• Corporation

Most Competitive to Least Competitive

• Oligopoly

• Monopoly

• Perfect Competition

• Monopolistic Competition

Can price fix or collude to raise prices

• Monopolistic Competition

• Oligopoly

Can't afford to advertise because it is a price taker

• Perfect Competition

• Monopoly

Often regulated by the government to prevent high prices.

• Monopolistic Competition

• Monopoly

Sort from easiest to hardest to enter

• Monopolistic Competition

• Perfect Competition

• Oligopoly

• Monopoly

Products are all effectively the same

• Perfect Competition

• Monopolistic Competition

A monopoly is a​ (a)   , while perfectly competitive firms are​ (b)  

• price maker
• price takers.

Click the Business on the diagram.

Click Money on the diagram.