types of economys
the business action of two or more companies striving to gain customers?
what is Competition
the following accounts for the eight general forms of market competition
what is Laissez-faire
Anti-trust laws may also be known as
what is Competition laws
Competition does NOT encourage companies to do
what is Decrease advertising
This type of market structure has only one firm producing a product
what is Monopolistic competition
the following is NOT an example of how competition helps consumers
what is Raising prices
the following creates markets with large numbers of buyers and sellers exchanging a homogenous product
what is Pure competition
this company was on trial for anti-trust laws in 1998
what is Microsoft®
this economic system prohibits the private ownership and management of resources and emphasizes income and wealth equality
what is Free enterprise
the following allow fair access to markets for entrepreneurs and are sometimes known as competition laws
what is Free enterprise laws
Competition thrives in the following types of economies
What is Capitalist
the following markets allows all buyers and sellers to know the prices of all other buyers and sellers
what is Monopolistic competition
the following is a French term for “let do”
what is Laissez-faire
Pure competition creates markets with large numbers of buyers and sellers exchanging a(n) __________ product.
what is Homogenous
__________ accounts for all income before deductions, but __________ is monetary gain after subtracting operating costs.
what is Revenue; profit
the following can create a price war
what is Price competition
the following literally means “few sellers”
what is Oligopoly
This type of market supports the doctrine of laissez-faire to a certain degree
what is Socialism
An oligopoly is most distinguished by the firms interdependence on pricing and marketing.
what is True
Laissez-faire is a Danish term which literally translates to “to each his own.”
what is false
type of economy resembles communism because most resources are government owned
what is Socialist
this company has been accused of having a monopoly on digital media players and online music sales
what is iTunes®
the following term means “single buyer”
what is Monopsony
Monopolistic competition refers to a market structure where many firms compete against each other when selling similar, but slightly differentiated products.
what is false
The United States utilizes many combinations of the market-buyer structures.
what is true