These Type of Business Markets Are Characterized by Just a Few

question 29

Multiple Choice

These type of business markets are characterized by just a few sellers.

• A) Monopsonistic competition
• B) Monopolies
• C) Purely competitive
• D) Monopolistically competitive
• E) Oligopolies

---

Definitions:

Social Security Tax

Taxes collected by the government from employees and employers to fund the Social Security program, providing retirement, disability, and survivors' benefits.

Payroll Tax Expense

Levies placed on both employers and employees, determined based on a percentage of the wages that employers distribute to their workforce.

FICA Taxes Payable

Taxes owed for Federal Insurance Contributions Act, primarily for Social Security and Medicare, withheld from employees' paychecks.

Employer's Payroll Taxes

These are taxes that employers are required to pay on behalf of their employees, including Social Security and Medicare taxes in the United States.