There Are Hundreds of Companies in the Business of Providing

question 42

Multiple Choice

There are hundreds of companies in the business of providing natural gas to residential users. For the most part, these local gas companies each only serve their local community and so they buy in very competitive markets but sell locally and without competitors. The retail market is therefore likely to be

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

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Definitions:

Associative Learning

A learning process by which an association between two stimuli or a behavior and a stimulus is learned.

Heroin

An illegal and highly addictive opioid drug processed from morphine, typically used recreationally for its euphoric effects.

Addicted

A physiological or psychological dependency on substances or behaviors that are harmful or detrimental to an individual’s health or social functioning.

Watching Others

The act of observing others' behaviors or actions, which can be a means of learning through imitation or social interaction.