In Business, the Four Basic Forms of Competition Are

question 136

Multiple Choice

In business, the four basic forms of competition are

• A) pure competition, limited competition, oligopoly, and monopoly.
• B) dictatorship, monarchy, oligarchy, and democracy.
• C) pure competition, cross-market competition, oligopoly, and pure monopoly.
• D) technological competition, market competition, governmental competition, and environmental competition.
• E) pure competition, monopolistic competition, oligopoly, and pure monopoly.

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Definitions:

Units-Of-Production Method

A depreciation method that allocates expenses based on the actual usage or production levels of an asset over its useful life.

Scrap Value

An asset's anticipated resale value once it has surpassed its period of utility.

Straight-Line Method

A method of calculating depreciation of an asset by evenly distributing its cost over the useful life of the asset.

Scrap Value

The estimated resale value of an asset at the end of its useful life, typically considered as salvage value.