Market Structures and Competition Quiz

Degree of competition is driven by the number of competing ______ in the industry.

Barrier to entry refers to the ease of which new firms can penetrate the ______.

Perfect competition features many firms selling homogenous ______.

Monopolistic competition features many sellers but typically they are smaller in ______.

Oligopoly is a market structure with only a few ______ players.

Unemployment Rate is the percentage of individuals in the labor force who do not have a ______.

Seasonal - happens in the industry with peak and lean seasons._________

Salary - the aggregate amount received.__________

Bonds - represents debts that are largely traded over the counter.__________

Unit of Account - money is used as a standard to measure the value of goods and services.__________

Monetary policy - BSP’s control of the country money supply and liquidity._________

A bond sold at Premium - bond price is above par _________

The degree of competition is determined by the number of competing firms in the industry.
Barrier to entry refers to the ease with which new firms can enter the market.
Perfect competition features many firms selling homogeneous products.
Monopolistic competition features many sellers, but they are typically smaller in size.
Oligopoly is a market structure with only a few dominant players.

The Unemployment Rate is the percentage of individuals in the labor force who do not have a job.

Seasonal fluctuations happen in industries with peak and lean seasons.
Salary is the aggregate amount received for work performed.
Bonds represent debts that are largely traded over the counter.
Unit of Account is the standard used to measure the value of goods and services.
Monetary policy is the central bank's control of the country's money supply and liquidity.
A bond sold at a premium is when the bond price is above par.