Describe a competitive market (5)

The more competitive a market...

What are monopoly's?

What is an oligopolistic industry?

How do monopolies develop?

What is the internal expansion of a business?

What are barriers to entry?

What are 3 examples of barriers to entry?

What are patents?

How do advertising an marketing act as barriers to entry?

How does brand proliferation act as a barrier to entry?

How does monopoly power = market failure?

What are the 3 potential benefits of monopoly?