Forms of market structure - Competitive/Noncompetitive.
Is the economy of a big city more competitive than that in a small town or given neighborhood? How? Do you think your local grocer has monopoly power? How much? Can you cite exs of both entry and exit from the marketplace among firms located within five miles of your home? What industries have been involved? Do you know of any giant firms that have emerged, almost from oblivion, in the past five years? Any that has failed? What would you conclude from your answers that our economy is basically competitive or noncompetitive?