№1 · MARKET FUNCTIONS
1. The 'Sanitizing' Function
Identify the scenario that best illustrates the 'sanitizing' (selective) function of the market in a competitive economy.
Ф.И.
Класс
Challenge your understanding of market mechanisms, equilibrium, and competitive structures. These tasks require deep analytical skills and the ability to apply economic theory to complex scenarios.
№1 · MARKET FUNCTIONS
Identify the scenario that best illustrates the 'sanitizing' (selective) function of the market in a competitive economy.
№2 · TERMINOLOGY
Complete the sentences regarding the characteristics of different market structures.
In an market, a few large firms dominate the industry, often leading to strategic interdependence. In contrast, competition is characterized by a large number of sellers offering differentiated products with low barriers to entry.
№3 · CLASSIFICATION
Match the specific market example with its classification category.
№4 · COMPARATIVE ANALYSIS
Fill in the missing technical characteristics for each market structure model.
| Structure | Number of Sellers | Product Type | Entry Barriers |
|---|---|---|---|
| Perfect Competition | |||
| Oligopoly | |||
| Pure Monopoly |
№5 · CALCULATION
The demand for a product is given by and the supply is . Calculate the equilibrium price () and the equilibrium quantity (). Show your steps.
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№6 · CATEGORIZATION
Categorize the following factors into Natural (Economic) or Artificial (Legal/Institutional) barriers to entry.
Слова для распределения: Patent protection, High initial capital requirements, State licensing requirements, Economies of scale, Import tariffs, Exclusive control of raw materials
Natural Barriers
Artificial Barriers
№7 · CRITICAL THINKING
Evaluate the following statements regarding market failures and government intervention.
№8 · GRAPH ANALYSIS
Examine the graph below. If the curve shifts from to , determine the likely cause and the resulting change in equilibrium.
Shift of the Demand Curve from to
№9 · LOGIC
Identify the factor that does NOT belong to the non-price determinants of Supply.
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