1. What are the market structures a firm competes in?

2. Describe the key characteristics of each market structure.

3. Give at least 1 example of a firm or industry for each market structure.

4. What does it mean to be a "price-taker"?

5. What does it mean to have "market power"?

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answerdemographic;