Which of the Following Characteristics Is Not Usually Found in Industries

question 21

Multiple Choice

Which of the following characteristics is not usually found in industries that are oligopolies?

• A)Barriers to entry
• B)Intense competition between competitors
• C)Increasing foreign competition
• D)No differentiation between products

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Definitions:

Resource Market

Markets where resources (or factors of production) like labor, capital, and raw materials are bought and sold.

Consumption Expenditures

The total amount spent by consumers on goods and services within a specified period.

Households

Individuals or groups living together who make joint decisions on consumption and resource allocation, forming the basic consuming unit in an economy.

Product Market

The marketplace in which final goods or services are offered to consumers, businesses, and the public sector.