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The four types of market structures we study in economics are perfect competition, monopoly, oligopoly, and monopsony.T/F

MARKETING 2018

19th Edition

ISBN:9780357033753

Author:Pride

Publisher:Pride

Chapter2: Planning, Implementing, And Evaluating Marketing Strategies

Section2.2: Netflix Uses Technology To Change How We Watch Videos

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Economic Trends

An economic trend is the long-term direction of an economy. The trend can go up, down, or sideways. An upward trend means the economy is growing and wages are rising. A downward trend means the economy is shrinking and unemployment is increasing. A sideways trend means the economy is neither growing nor shrinking.

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The four types of market structures we study in economics are perfect competition, monopoly, oligopoly, and monopsony.T/F

Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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