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In pure competition, a large number of suppliers offer very similar products.  : True. A business in monopolistic competition has no control over price if it wants to sell its products.  : False. In a monopoly, customers will pay a higher price because there are no alternative products to those of the supplier.  : True. A cable television company usually operates in a pure competition environment.  : False. The airline industry is an example of an oligopoly.  : True. The most common type of economic competition facing most businesses is pure competition.  : False. Businesses in monopolistic competition should focus on making their products different from and better than competitors' products: True. Each product in a specific market has its own supply and demand curves.  : True. The market environment in which a business without competitors operates is : a monopoly . The market environment in which most retail businesses operate is : monopolistic competition. As a consumer, you will usually choose the  : option providing the most satisfaction at the best value  . In a market where demand exceeds supply  : all are correct 

Compare & contrast now! Explore organizational structures in texts. Identify similarities and differences to improve your informational text skills!

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introduction to business

The key concept being expressed with supporting information about that concept: main idea and details. Tells why something happened and the result of it happening: cause and effect. Uses dates to express time order: Chronological Order. Lists features, characteristics, or examples: Description. Shows likenesses and differences of two or more things: Compare and Contrast. Which text structure tells the steps to follow to do something or make something: sequential order. What is another name for text structure: organizational patterns. For which text structure would you ask the question, "How are the two items similar or different?": compare and contrast. For which text structure would you ask the questions, "When did it happen?" and "In what order did it happen?": chronological order. A glossary is an example of which text feature: Organizational Text Features. Bold or highlighted print is an example of which text feature: Print Text Features. A map is an example of which text feature: Graphic Text Features. A table of contents is an example of which text feature: Organizational Text Features. Underlining is an example of which text feature: Print Text Features. A chart or table is an example of which text feature: Graphic Text Features

Explore economic activities and global development! Take this quiz to test your knowledge of economic sectors and development levels. Start learning now!

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