Economics Unit 4 Review

When should a service be provided by the government?

Which type of industry is dominated by a few firms selling similar products?

What is it called when someone gets benefits that someone else pays for (at least in part)?

Which type of business provides the most legal protection for its owners?

What is it called when the free market leads to a poor outcome for society?

Why don't natural resources guarantee long-term wealth for a nation?

Which type of industry tends to provide the best prices for consumers?

Which type of industry tends to provide the most profits for firms?

Which of these is an example of an industry that likely operates under monopoly?

In which types of markets is advertising most important?

Which is an example of an industry that is likely under perfect competition?

Which of these is an industry that likely operates under oligopoly?

What is the probable solution to a market failure?

Which type of business often raises funds through stock sales?

Which type of market consists of only one firm?

What, more than anything, determines how much a job pays?

For which job is there a higher demand in the U.S.?

Which is a disadvantage of perfect competition?

Game theory suggests that firms in which type of industry have to guess each other's moves?

Which type of business is owned by an individual?

Which of these is an industry that likely operates under monopolistic competition?

In which type of industry do firms take whatever price is given to them by the industry?

What is it called when the government provides a good or service?