Which of the Following Has Been a Century-Long Trend in the United

question 60

Multiple Choice

Which of the following has been a century-long trend in the United States?

• A)Decline of total value of world trade.
• B)Relative increase in farming to manufacturing.
• C)Relative decline in manufacturing to the service sector.
• D)Relative decline in service sector to manufacturing.

---

Definitions:

Pure Monopoly

A market structure where a single seller controls all of a product's supply and can set prices without competition.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit, leading to perfect competitive markets.

Differentiated Oligopoly

A market structure where a few firms dominate, but differentiate their products through branding, quality, or other means to compete.

Soft Drink Industry

A sector of the beverage industry that produces and sells non-alcoholic drinks such as sodas, carbonated waters, and flavored drinks.