Market Structures and Consumer Behavior Quiz

Multiple firms offering varied products.

One firm controlling pricing without competition.

Maximized competition among firms.

Market dominance shared among a small number of firms.

Absence of obstacles for new entrants.

Significant hurdles for new companies.

Distinguishing products among competitors.

Uniformity in products across firms.

Competition through means other than price.

Profit maximization as primary objective.

Firms' actions affecting competitors.

Optimal allocation of resources.

Encouragement of innovation among few firms.

Ability to charge different prices to consumers.

Potential for agreement among few dominant firms.

Ease of entering and exiting the market.