bago

Question 1

refers to the competitive Environment in which sellers and buyers operate

Answer 1

market structure

Question 2

rivalry among various sellers in the market

Answer 2

competition

Question 3

many and small sellers and no one can affect the market

Answer 3

perfect competition

Question 4

one or more assumptions of the perfect competition will not be met

Answer 4

imperfect competition

Question 5

single sellers and no competitors in the market

Answer 5

monopoly

Question 6

multiple giant firms produce similar and highly predictable products

Answer 6

monopolistic competition

Question 7

standardized/differentiated products or goods

Answer 7

oligopoly

Question 8

3 economic issues

Answer 8

investment and interest rates
rentals
minimum wage

Question 9

entrepreneurs are obliged to pay the following taxes

Answer 9

percentage tax
value added tax
income tax

Question 10

three challenges for Filipino entrepreneurs

Answer 10

government licensing and permits
prohibitive rental rates
no jobs