When There Are Many Buyers and Sellers,no Significant Barriers to Entry,and

question 54

Multiple Choice

When there are many buyers and sellers,no significant barriers to entry,and a differentiated product,the market structure is called

• A)an oligopoly
• B)perfect competition
• C)monopolistic competition
• D)a monopoly
• E)unbalanced monopoly

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Definitions:

Seafloor Spreading

The process by which new oceanic crust is created at mid-ocean ridges and gradually moves away from the ridge, contributing to continental drift.

Sea Level Rise

The increase in the global average level of the oceans, attributed primarily to climate change via melting ice and thermal expansion of seawater.

Karst Topography

Topography characterized by sinkholes, caves, limestone pillars, poorly organized drainage patterns, and disappearing streams; generally formed from the dissolution of limestone.

Coral Reefs

Biodiverse underwater ecosystems constructed by colonies of coral polyps held together by calcium carbonate, found in tropical oceans.