Types of markets Flashcards
Business markets
1
Q
What is an oligopoly?
Only a _________________________ in the market with _______________________.
A
few large companies
distinct products
2
Q
What is a monopoly?
Only __________________________ in the market.
A
one dominant company
3
Q
What is monopolistic competition?
A mixture between _______________ and _________________________.
A
monopoly
perfect competition.
4
Q
What is perfect competition?
A large number of __________ companies in ____________________ with each other.
A
smaller
competition
5
Q
What is a consumer market?
When retailers sell _____________ to consumers.
A
products
