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CIV M6L3 Key Words

Civics Module 6 Lesson 3 Key Terms

TermDefinition
Competition When two or more businesses are in conflict because they make the same good or provide the same service.
Monopoly When there is only one business providing a good or service.
Oligopoly When there are a few businesses providing a good or service.
Monopolistic Competition A competitive market where each business sells a slightly different good or service.
Perfect Competition A competitive market where there are many businesses with the exact same good or service to offer the public.
Merger A merger is when two businesses come together to make one larger business.
Created by: dmcsorley13
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