krisha report

Question 1

Types of Market Structures

Answer 1

1. Perfect Competition
2. Monopolistic Competition
3. Monopoly
4. Oligopoly
5. Monopsony

Question 2

Where to or more parties transact

Answer 2

Market

Question 3

4 Types of Market (when referring to market)

Answer 3

Physical Market
Online Market
International Market
Group of people for whom products are intended to be sold.

Question 4

Includes public market, department stores, and restaurants

Answer 4

Physical Market

Question 5

Includes Instagram, Facebook, and other Websites.

Answer 5

Online Market

Question 6

Deals with imports and exports

Answer 6

International Market

Question 7

Large number of small firms

Answer 7

Perfect competition

Question 8

Customers have freedom to choose

Answer 8

Perfect competition

Question 9

Example of Perfect Competition

Answer 9

Agricultural and Street Foods

Question 10

Also known as Pure Competition

Answer 10

Perfect Competition

Question 11

Best example of this is the palay

Answer 11

Perfect Competition

Question 12

Products are differentiated through quality, price, and product presentation

Answer 12

Monopolistic Competition

Question 13

Involves canvassing of customers to choose this brand

Answer 13

Monopolistic Competition

Question 14

Examples of Monopolistic Competition

Answer 14

Clothing
Bathsoaps

Question 15

There is only one company and they have power over price and quality

Answer 15

Monopoly

Question 16

Usually involved in utilities and they can change their prices easily

Answer 16

Monopoly

Question 17

You can count on one hand the number of sellers

Answer 17

Oligopoly

Question 18

Usually involved in cartel

Answer 18

Oligopoly

Question 19

Examples of oligopoly

Answer 19

Oil companies
malls
pc manufacturers