1. Monopoly

market structure with a few sellers who produce either identical or differentiated products (such as cars and steel)

2. Perfect Competition

market structure with a single seller who produces a product with no close substitutes ("price makers")

3. Oligopoly

market structure with many sellers who produce identical products ("price takers")

4. Monopolistic Competition

market structure with many sellers who produce differentiated products (such as food, hairdressers, and movie theaters)

match the words and definitions

Question

Brittany

Social Studies

20 March, 05:31

1. Monopoly

market structure with a few sellers who produce either identical or differentiated products (such as cars and steel)

2. Perfect Competition

market structure with a single seller who produces a product with no close substitutes ("price makers")

3. Oligopoly

market structure with many sellers who produce identical products ("price takers")

4. Monopolistic Competition

market structure with many sellers who produce differentiated products (such as food, hairdressers, and movie theaters)

match the words and definitions

+3

Answers (1)

Know the Answer?

Mariana · Answer 1

The answer is: The First Word matched with the Second Definition. The Second Word matched with the Third Definition. The Third word matched with the First Definition. The Fourth Word matched with the Fourth Definition. These words and definitions are the types of market competition between companies regarding its product.