12 Questions
Degree of competition is driven by the number of competing ______ in the industry.
firms
Barrier to entry refers to the ease of which new firms can penetrate the ______.
industry
Perfect competition features many firms selling homogenous ______.
goods
Monopolistic competition features many sellers but typically they are smaller in ______.
size
Oligopoly is a market structure with only a few ______ players.
players
Unemployment Rate is the percentage of individuals in the labor force who do not have a ______.
job
Seasonal - happens in the industry with peak and lean seasons._________
Cyclical
Salary - the aggregate amount received.__________
Income
Bonds - represents debts that are largely traded over the counter.__________
Securities
Unit of Account - money is used as a standard to measure the value of goods and services.__________
Standard
Monetary policy - BSP’s control of the country money supply and liquidity._________
Regulates
A bond sold at Premium - bond price is above par _________
Value
Test your knowledge of different market structures, degree of competition, bargaining power of consumers, and barriers to entry in the market. Learn about the impact of these factors on industries and firms.
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