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Healthy vs Unhealthy Competition and Types of Competition

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Healthy vs Unhealthy Competition and Types of Competition

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Questions and Answers

What type of competition involves ONLY ONE firm in the industry?

Perfect Competition

Monopoly (correct)

Oligopoly

Monopolistic Competition

Which type of competition involves FEW dominant firms and is prone to Price Collusion?

Oligopoly (correct)

Perfect Competition

Monopolistic Competition

Monopoly

In which type of monopoly does the Government operate the industry?

Geographical Monopoly

Natural Monopoly

Government Monopoly (correct)

Technological Monopoly

What is a characteristic of Perfect Competition?

Full knowledge of buyers and sellers Signup and view all the answers

Which factor is NOT part of Product Differentiation?

Price Collusion Signup and view all the answers

What does Monopolistic Competition consist of?

Many firms with differentiated products Signup and view all the answers

What is the defining characteristic of a Sole Proprietorship?

Owned by 1 person Signup and view all the answers

Which type of business organization is known for having multi-tasking?

Sole Proprietorship Signup and view all the answers

What is the principal source of investment fund for Sole Proprietorships?

Personal/Family Savings Signup and view all the answers

In what way do Partnerships differ from Sole Proprietorships?

Partnerships have more owners than Sole Proprietorships Signup and view all the answers

Which type of Corporation has owners known as Stockholders or Shareholders?

Publicly Listed Corporation Signup and view all the answers

What is a common characteristic of Cooperatives?

Depend on willingness of members to share Signup and view all the answers