Which Type of Competition Is Characterized by a Small Number

question 65

Multiple Choice

Which type of competition is characterized by a small number of firms, homogeneous products and costly entry and exit?

• A) perfect competition
• B) monopolistic competition
• C) oligopoly
• D) monopoly

---

Definitions:

Reservation

An area of land managed by a Native American tribe under the United States Department of the Interior's Bureau of Indian Affairs.

Colonial Possessions

Territories controlled and exploited by a foreign power, often referring to the period of European global colonization from the 16th to the early 20th century.

Open-Door Policies

Diplomatic policy aimed at ensuring equal trading opportunities in China for all foreign nations and preserving China's territorial integrity.

Anglo-Saxons

Germanic tribes who settled in England in the 5th and 6th centuries, whose culture and language significantly influenced the development of English society and linguistic structure.