Terms of Renting a Housing Unit May Be Contained in a Contract

question 175

Multiple Choice

Terms of renting a housing unit may be contained in a contract called a

• A) deposit requirement.
• B) renewal option.
• C) lease.
• D) housing code.
• E) housing standard.

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Definitions:

Contestable Markets Model

An economic concept suggesting that a market is competitive if entry and exit costs are low, even if it is dominated by a few firms.

Oligopoly

A market structure characterized by a small number of large firms dominating the industry, leading to limited competition and potential for collaboration in setting prices.

Differentiate Products

Strategies employed by businesses to make their products stand out from those of competitors, such as through quality, design, or features.

Oligopolies

Market structures characterized by a small number of firms dominating the market, leading to reduced competition.