1.) Define and describe how the following play a role in 'Perfect Competition': Many producers/consumers, identicle products, ease of entry, no control over prices

2.) Define and provide an example of a 'barrier to entry'

3.) Define and provide examples of both positive and negative externalities. Then, explain why both positive and negative externalities are considered market failures.

4.) Give 2 characteristics of public goods and explain whether they are positive or negative to the consumer.