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7-1 Vocabulary jw Word Scramble

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Created by: joannw15

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A4 CBA Excel Vocab

Question	Answer
An economic model of competition among businesses in the same industry.	market structure
The ideal model of a market economy	Perfect competition
A product consumers see as identical regarless of producer.	standardized product
A business that accepts the market price determined by supply and demand.	Price taker
Occurs in markets that have few sellers or products that are not standardized.	imperfect competition