QUESTION 1

(1.a) List three (3) different market structures that exist in the construction industry.

* Perfect Competition Markets.

* Monopoly market.

* Oligopoly market

(1.b) For EACH of the three market structures that you have listed in (1.a), identify one (1) market or sector in the Australian construction industry that exemplifies that market structure.

(1.c) Briefly describe the main characteristics of one market structure listed in (1.a).

QUESTION 2

The figure below shows the flows of expenditure and income in Australia.

\fBon curve