Answer the Following: A.Discuss Each of the Following Economic Market Structures (I.e.,number of Structures

question 74

Essay

Answer the following:
a.Discuss each of the following economic market structures (i.e.,number of firms in industry,barriers to entry,uniqueness of product):
i.Perfectly competitive market
ii.Monopolistic competition
iii.Oligopoly
iv.Monopoly
b.Match the following industries with the appropriate economic market:
Local cable television company
Restaurants
Canada Post
Cereal
Wheat farmer
Automotive

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Definitions:

Indebtedness

The feeling of owing something, whether emotional or financial, to another person or entity.

Major Components

Essential parts or factors that constitute a larger system or complex entity.

Goals

are defined objectives or targets that an individual, group, or organization strives to achieve.

Cognitive Component

Part of an attitude that encompasses beliefs, thoughts, and attributes about an object or situation.