In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors'. There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who has passed inspections can acquire and maintain their license. Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enough customers to share among four or more airlines without each one experiencing substantially higher average costs. Consumers view all airlines as providing basically the same service and will shop around for the lowest price. The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug. How many firms? One, Many or Few
Type of product? Unique, Anything, Standardized, or Differentiated
Market Value? Perfect competition, oligopoly, monopolistic competition or monopoly

Coffee shop chain - Many businesses cater to the market's wants and needs. This is a distinctive item because customers believe it tastes much better than competing brands.

There is a monopolistic competition going on here.

The white stockings company is one of many that produce the same product. Because each business generates the same homogeneous result, it is a standardized product.

Taxi businesses - There are just a few, if not two, taxi services on the market. Their product is anything that is homogeneous and that the clients do not distinguish.

Patented medicine - the market is monopolized since only one company operates in it. In the marketplace, there is just one seller.

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In a major metropolitan area, there are many coffee shops, but one chain has gained a large market share because customers feel its coffee tastes better than its competitors'.  - Differentiated product. Monopolistic competition.

The product is differentiated because it is not a perfect substitute for its competitors, since it is seen as being of higher quality than the rest.

The market structure is monopolistic competition because while there are many firms in the market, they do not sell prefect substitutes, and as a result, the market is sensitive to the rise of one of the companies.

There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who has passed inspections can acquire and maintain their license. - Standardized. Perfect Competition.

The pasta producers sell a product that is a perfect substitute, that is why restaurant buy whichever pasta is the cheapest.

The market value is reached in Perfect Competition because there are many firms in the market, the products are perfect substitutes, and few if any barriers to entry and exit.

Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter this market, because there are not enough customers to share among four or more airlines without each one experiencing substantially higher average costs. Consumers view all airlines as providing basically the same service and will shop around for the lowest price.  - Standarized. Oligpology.

The product is standarized because it essentially has the same qualities, and consumers view all airlines as providing basically the same service.

The market structure is oligopoly because the market only has three firms, and no new firms can enter the market (barriers to entry).

The government has granted a patent to a drug company for an experimental AIDS drug. That company is the only firm permitted to sell the drug. - Unique. Monopoly.

The product is an unique type of drug, that is why it was granted a patent.

The market structure is a monopoly because only one firm sells a product that does not have any substitutes.

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the page presents four different kinds of threats that volcanoes pose and what to do before, during, and after an eruption.