Product Variety Is Likely to Be Greater in

question 198

Multiple Choice

Product variety is likely to be greater in

• A)monopolistic competition than in pure competition.
• B)pure competition than in monopolistic competition.
• C)homogeneous oligopoly than in monopolistic competition.
• D)homogeneous oligopoly than in differentiated oligopoly.

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Definitions:

Social Categorisation

The process by which individuals classify others into groups based on shared characteristics.

Social Creativity

Group-based behavioural strategies that improve social identity but do not directly attack the dominant group’s position.

Social Change

The transformation over time of cultural values, norms, and social structures, leading to significant shifts in society.

Social Competition

Group-based behavioural strategies that improve social identity by directly confronting the dominant group’s position in society.