Which of the Following Are Considered Open-Ended Materials

question 10

Multiple Choice

Which of the following are considered open-ended materials?

• A) unit blocks
• B) baby dolls
• C) balance scales
• D) puzzles

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Definitions:

Entry Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.

Pure Competition

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to price determination by supply and demand.

Pure Monopoly

A market structure in which one firm sells a unique product, into which entry is blocked, in which the single firm has considerable control over product price, and in which nonprice competition may or may not be found.

Entry Barriers

Obstacles that make it difficult for new competitors to enter an industry, including high startup costs, access to technology, and strict regulations.