The Economy of _____,Already the Seventh Largest in the World,is

question 61

Short Answer

The economy of _____,already the seventh largest in the world,is projected to move into fourth place by 2050.

---

Definitions:

Monopolistic Competition

The market structure that exists when there are fewer businesses than in a pure-competition environment and the differences among the goods they sell are small.

Competitive Environment

The dynamic external system in which businesses compete for resources, customers, and market space.

Pure Competition

The market structure that exists when there are many small businesses selling one standardized product.