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Oligopoly, Pure competition, Monopolistic competition
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Which of the following are market structures that can exist in a free-market system?
OligopolyPure competitionMonopolistic competitionapex♥ lluvyanna.NO. I LOVE YANNA.
What Market structures that can exist in a free market system?
In a free market system, several market structures can exist, including perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition features many buyers and sellers with identical products, leading to no single entity influencing prices. Monopolistic competition allows for product differentiation among many firms, while oligopoly involves a few dominant firms that can influence market prices. Lastly, a monopoly exists when a single firm controls the entire market for a product or service, leading to significant pricing power.
Why does poverty exist in a free market?
Poverty exists in a free market economy because people can choose how to make their money.
Why does poverty exist in a free market economy?
Poverty exists in a free market economy because people can choose how to make their money.
Why must private ownership of property be guaranteed before a free market economy will work?
Private ownership of property is essential to a free market economy. Without private ownership of property a free market economy cannot exist.
What best states the purpose of the laws against theft fraud and coercion that exist a free-market society?
To protect free choice
Why to study perfect competition if it does not exist in the real world?
By studying perfect competition, we can learn how much an ideally functioning market system might accomplish and we can compare it to real world market structures.
What best states the purpose of the laws against theft fraud and coercion that exist in a free-market society?
to protect free choice.. apex(:
Why is a free market a type of market failure?
In a free market, there is profit to be made by making the free market not a free market. Therefore, a completely free market destroys itself.
The free market system cannot exist without government regulations for what?
The profit motive undermines competition unless competition is protected.
What are the pros of a free-market economy?
In a free-market economy hard work and personal initiative equal success. All businesses exist to make a profit and competition allows them to compete and provide customers with a selection, and the ability to get the best price for their product. In the free market system poorly made or expensive products will be rejected from the marketplace by the consumers.
Free market system cannot exist without government regulations for what reason?
The profit motive undermines competition unless competition is protected.
