2 years ago

Drag the tiles to the correct boxes to complete the pairs. Match each economic term with its description?

Business

1 answer:

VMariaS [17]2 years ago

5 0

Monopoly: There is a single seller in the market

Oligopoly: every company in this market structure is aware of the actions of the other companies (oligopolies are a small number of companies controlling the markets- there are elements of collusion in this structure because the firms work together to control prices and the market)

Perfect Competition: There are no barriers to entry (lots and lots of competing companies that each have a small share of the market)

Collusion: 3 companies secretly enter into a price agreement (this is illegal in many cases)

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