Microeconomics Notes 1.5.4: Monopolistic Competition
0.0(0)
Studied by 2 people
Learn
Practice Test
Spaced Repetition
Match
FlashcardsCard Sorting
1/3
Earn XP
Description and Tags
Study Analytics
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
4 Terms
1
New cards
Monopolistic competition
________ is a market structure where there are many sellers producing differentiated products, with no barriers to entry or exit.
2
New cards
Product differentiation
________ is a form of non- price competition where suppliers attempt to make their products different (or perceived to be different) from those of their competitors.
3
New cards
Brand loyalty
________ is important as firms takes risks, consumers still buy their products due to their image and reputation.
4
New cards
1.5.4
Monopolistic Competition (HL only) Definitions 1
Note 
Flashcards (24)