Characteristics of Market Structures Market Number of Firms Influence over Price Entry into Structure in Industry Market P Few Some Difficult Q One Extensive Almost Impossible R Many None Easy Many Limited Easy S 12. What market structure does the letter in the represent? “R” 13. monopoly” should replace what letter in the table? “Pure a general partnership, in a limited partnership all partners share equal financial responsibility for the firm's decisions. the inactive partner has limited liability for the business's the partners must pay special business taxes. the business does not end with the death of a partner. merger of corporations involved in different steps of manufacturing or marketing is known as a multinational merger. vertical merger. horizontal merger. conglomerate. advantage of a corporation is that owners pay fewer taxes than owners of other forms of business. the business is subject to little government regulation. owners have limited liability for debt. owners have direct and immediate control over management of the business. 17. According to the illustration, what is the least common form of business organization in the United States? 18. Which letter represents the proper location on the diagram for liability”? “unlimited 19. Which letter represents the proper location on the diagram for earn dividends”? “owners Nonfarm Sole Proprietorships in the United States (approximate figures) Total Number of Sole 16,154,000 Proprietorships Forestry and fishing 2% Percent of Sole Proprietorships Mining 1% Engaged in Different of Construction 1% Activities Manufacturing 3% Transportation 4% Wholesale and retail 18% Finance, insurance, real 9% estate Services 50% Other 12%
Characteristics of Market Structures Market Structure Number of Firms in Industry Influence over Price Entry into Market P Few Some Difficult Q One Extensive Almost Impossible R Many None Easy S Many Limited Easy 12. What market structure does the letter “R” in the represent? 13. “Pure monopoly” should replace what letter in the table? a general partnership, in a limited partnership all partners share equal financial responsibility for the firm's decisions. the inactive partner has limited liability for the business's the partners must pay special business taxes. the business does not end with the death of a partner. merger of corporations involved in different steps of manufacturing or marketing is known as a multinational merger. vertical merger. horizontal merger. conglomerate. advantage of a corporation is that owners pay fewer taxes than owners of other forms of business. the business is subject to little government regulation. owners have limited liability for debt. owners have direct and immediate control over management of the business. 17. According to the illustration, what is the least common form of business organization in the United States? 18. Which letter represents the proper location on the diagram for “unlimited liability”? 19. Which letter represents the proper location on the diagram for “owners earn dividends”? Nonfarm Sole Proprietorships in the United States (approximate figures) Total Number of Sole Proprietorships 16,154,000 Percent of Sole Proprietorships Engaged in Different of Activities Forestry and fishing 2% Mining 1% Construction 1% Manufacturing 3% Transportation 4% Wholesale and retail 18% Finance, insurance, real estate 9% Services 50% Other 12%
Unit%203%20Markets%20and%20Competition%20Study%20Guide%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20Coach%20Lott.docx