2.5 Market Structures and Competition

Question 1

Which situation could be the best example of an oligopoly?

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A new producer of a smart phone operating system is trying to enter the market but cannot because most cell phone makers use one of two popular operating systems.

Question 2

Competition happens based on .

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features and branding

Question 3

Producers provide goods that are their competitors' goods.

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different from

Question 4

Use what you have learned about monopolies to complete the following sentences.

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✔ limit; Monopolies competition in the market.: limit; In a monopoly, a producer controls the market because it is able to meet the demands of all consumers.: natural; In a monopoly, a producer controls the market by the authority of the government, and private production cannot take place.: government; In a monopoly, a producer controls the market by holding a patent on the process of creating a specific good.: technological

Question 5

✔ natural technological government

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✔ natural

Question 6

naturaltechnological✔ government

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✔ government

Question 7

X natural✔ technological government

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✔ technological

Question 8

In monopolistic competition, there are barriers to entering the market.

Revolt · Accepted Answer

few; In monopolistic competition, there are barriers to entering the market.: few; Competition happens based on .: features and branding; Producers provide goods that are their competitors' goods.: different from

2.5 Market Structures and Competition Answers

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