How Does an Initialism Differ from an Acronym

question 116

Multiple Choice

How does an initialism differ from an acronym?

• A) An initialism is more likely to be misinterpreted than an acronym because it can have more than one meaning.
• B) The individual letters are pronounced in an initialism rather than being read as a word like an acronym.
• C) An initialism includes periods between the letters in the abbreviation while an acronym does not include periods.
• D) Initialisms are frowned upon by the Institute for Safe Medical Practices while acronyms are acceptable to this group.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms whose control over the market is significant enough to influence prices and other market factors.

Cournot Duopoly

A market structure where two firms compete with each other by choosing quantities to produce independently.

Perfect Competition

A market structure characterized by many buyers and sellers, identical products, no barriers to entry or exit, and perfect information.

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, leading to competition based on price, quality, and marketing.