Economists have identified four types of competitive markets: oligopoly, monopolistic competition, pure competition, and
A)capitalism.
B)socialism.
C)consumer-dominated.
D)government-dominated.
E)pure monopoly.

Question

Quizplus · Accepted Answer

The other options mentioned (capitalism, socialism, consumer-dominated, government-dominated) are not types of competitive markets. Pure monopoly, on the other hand, is a type of market structure where there is only one supplier of a particular good or service, which gives them full pricing power in the market.

Economists Have Identified Four Types of Competitive Markets: Oligopoly, Monopolistic