A Contestable Market Is a Market

question 39

Multiple Choice

A contestable market is a market

• A) that is highly contested by two, and only two, rival firms.
• B) in which the costs of entry and exit are low.
• C) characterized by high profitability and government regulation.
• D) characterized by a large number of firms; in essence, the term means the same thing as pure competition.

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Definitions:

Mary Ainsworth

A developmental psychologist known for her work in early emotional attachment with "The Strange Situation" assessment.

Industry Versus Inferiority

A stage in Erik Erikson's theory of psychosocial development where children develop a sense of competency and skills, or feel inadequate and inferior.

Erikson

Erik H. Erikson, a developmental psychologist and psychoanalyst known for his theory on the social development of human beings and coined the phrase "identity crisis".

Sense of Competence

Describes an individual's belief in their own abilities to successfully execute tasks.