Examlex
Which of the following is an example of social infrastructure?
Industry Market Structure
Refers to the organization and characteristics of a particular market, including the number and size of firms, and the level of competition.
Imperfectly Competitive Markets
Markets in which individual sellers have some control over the price due to product differentiation, barriers to entry, or other factors, unlike in perfect competition.
Competition
Economic rivalry among businesses fighting for the same customers or markets, characterized by the struggle to attract customers, lower costs, and improve products and services.
Market Power
Refers to the ability of a company or firm to raise and maintain prices above the level that would prevail under competition.
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