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Chapter 11: Competition Flashcards | StudBud
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Chapter 11: Competition
Chapter 11: Competition
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Flashcards
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Questions
10
Answers
1
Marketers do
not
need to know what products their competitors are selling and their pricing.
True
False
2
Monopolistic competition is also known as
imperfect competition.
False
True
3
If 2 companies have a 95 percent combined market share, they are said to be the market-share _.
leaders
features
losers
followers
4
Perfect competition would be the ideal market structure, but it is unrealistic.
False
True
5
Sales can be measured in which of the following ways?
By research or planning.
By price or nonprice.
In dollars or the number of items sold.
From the customers or the consumers.
6
____ prevent healthy competition.
Monopolies
Customers
State laws
Market economies
7
In different economic systems, ____ is a key element of both market and mixed economies.
command
tradition
pure
competition
8
Market share is useful for comparing companies in the same market with each other.
False
True
9
Market share is the ____ of the total sales that one business has in a specific market.
timing
amount
leader
percentage
10
Which of the following is an early antitrust law passed by the US government?
Consumer Bill of Rights.
Library of Congress Act of 1945.
Sherman Antitrust Act of 1890.
Environmental Protection Law of 1998.
