market structures

Front

Why does no one firm dominate in a perfect competition?

Back

Each firm produces so little of the total supply that they cannot influence prices.

Front

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

Back

Barriers to entry

Front

What prevents firms from entering a monopoly?

Back

Barriers to Entry

Front

Businesses can "Collude" or work together to set prices. Options: Oligopoly, Monopoly, Perfect Competition

Back

Oligopoly

Front

Choose the example that goes best with an oligopoly: apples, cell phone providers, utilities, clothing

Back

cell phone providers

Front

Which of the following industries is an example of a monopoly? utilities/water, department stores, auto industry, commercial airlines

Back

utilities/water

Front

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

Back

monopolistic competition

Front

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

Back

Oligopoly

Front

Public utilities are an example of what type of market structure? Options: Perfect Competition, Natural Monopoly, Monopolistic Competition, Oligopoly

Back

Natural Monopoly

Front

Using the pizza store graphic, what market structure best fits the pizza industry?

Back

Monopolistic competition