The Market Situation in Which Only a Few Large Firms

question 53

Multiple Choice

The market situation in which only a few large firms compete in offering very similar marketing mixes to customers is called

• A)pure competition.
• B)oligopoly.
• C)capitalistic competition.
• D)monopolistic competition.
• E)monopoly.

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Definitions:

Communitarianism

A social philosophy emphasizing the importance of community in the functioning of political life, often valuing community goals over individual ones.

Equality of Condition

A social state in which people have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to social goods and services.

Equality of Opportunity

The principle that all individuals should have an equal chance to pursue their own goals and interests, typically referring to non-discrimination in access to education, employment, and other resources.

Equality of Opportunity

The principle that all individuals should have the same chance to succeed, without discrimination based on background, race, gender, or other personal characteristics.