Consumers Can Choose from Hundreds of Different Kinds and Producers

question 151

Multiple Choice

Consumers can choose from hundreds of different kinds and producers of cheese, each with a slightly different flavour and texture. This type of market structure is known as ______.

• A) pure competition
• B) monopolistic competition
• C) a monopoly
• D) an oligopoly

---

Definitions:

Asset

An economic resource owned or controlled by an individual or entity, expected to provide future benefits.

Debit

An entry recorded on the left side of an account ledger, representing an increase in assets or expenses or a decrease in liabilities, equity, or income.

Snow Removal

Services or actions taken to clear snow from roads, sidewalks, and other surfaces, typically considered a maintenance expense for businesses in areas with snowfall.

Provided

Refers to the information or items that have been supplied or made available.