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Unit 2 Demand & Supply & Market Structures Flashcards | StudBud
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Unit 2 Demand & Supply & Market Structures
PRODUCT-Oligopoly
Demand-Monopolistic
Unit 2 Demand & Supply & Market Structures
29 terms
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StudBud Administration
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1,147 plays
Demand and Supply and Market Structures
Flashcards
29 cards
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Questions
29
Answers
1
Demand-Monopolistic
Elastic(but not perfectly elastic)
Less Elastic
Perfectly Elastic
Market
2
PRODUCT-Oligopoly
Unique
Homogeneous/Similar
Homogeneous or Differentiated
Differentiated
3
PRICE-Monopolistic Competition
Much Control
Some Control
Taker
Maker
4
If Taco Bell has a very successful ad campaign does the demand curve shift to
Up
Right
Down
Left
5
Law of Supply shows an
Inverse
Direct
6
PRICE-Monopoly
Taker
Much Control
Maker
Some Control
7
PRODUCT-Perfect/Pure Competition
Homogeneous or Differentiated
Differentiated
Homogeneous/Similar
Unique
8
Demand-Perfect/Pure Competition
Elastic(but not perfectly elastic)
Less Elastic
Perfectly Elastic
Market
9
Oligopoly has ** sellers
Two
Few
One
Many
10
Law of Supply is shown as:
P up Q up & P down Q down
P up Q down & P down Q up
11
Law of Demand shows ** relationship:
Direct
Inverse
12
PRODUCT-Monopolistic Competition
Differentiated
Homogeneous/Similar
Unique
Homogeneous or Differentiated
13
Barriers-Oligopoly
Large Barriers
No Barriers
Extremely Large Barriers
14
Barriers to Entry-Perfect/Pure Competition
Extremely large barriers
Large Barriers
No Barriers
15
PRODUCT-Monoploy
Homogeneous or Differentiated
Homogeneous/Similar
Unique
Differentiated
16
Barriers-Monopoly
Extremely Large Barriers
No Barriers
Large Barriers
17
Demand-Oligopoly
Market
Perfectly Elastic
Elastic(but not perfectly elastic)
Less Elastic
18
Demand curve shift to ** when gov places a tax on the sale of lemonade
Right
Down
Up
Left
19
Demand curve shifts to *** if the news media reports spinach leaves is causing a fatal outbreak
Left
Up
Down
Right
20
Law of Demand is shown by:
P up Q down & P down Q up
P up Q up & P down Q down
21
Monopoly has ** sellers
Two
One
Many
Few
22
Monopolistic competition has ** sellers
One
Two
Many
Few
23
Demand-Monopoly
Less Elastic
Elastic(but not perfectly elastic)
Perfectly Elastic
Market
24
If a # of firms leaves the industry, supply shifts to the ***.
Up
Left
Right
Down
25
Barriers-Monopolistic Competition
No Barriers
Large Barriers
Extremely Large Barriers
26
PRICE-Oligoply
Maker
Taker
Some Control
Much Control
27
Pure competition has ** sellers
One
Two
Few
Many
28
PRICE-Perfect/Pure Competition
Taker
Much Control
Some Control
Maker
29
** is a non-price determinant of demand.
Consumer Preferences
Price Ceiling
Supply Ceiling
Demand Ceiling
