ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Perfect Competition
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Oligopoly
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Monopoly
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Monopolistic Competition
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Detailed explanation-1: -The Rubik’s Cube is a 3-D combination puzzle originally invented in 1974 by Hungarian sculptor and professor of architecture Ernő Rubik.
Detailed explanation-2: -In competitions, the standard Rubik’s cube used is the 3x3x3 Rubik’s cube. This is the classic version of the puzzle and is considered the standard size for solving and competition purposes.
Detailed explanation-3: -Filmmakers often use the Rubik’s Cube to symbolize an idea or meaning. It has also been used as a prop or as part of the set dressing. Some of the thoughts and feelings that the Rubik’s Cube symbolically conveys are life’s complexities, difficulties, intelligence, mystery, stylishness, elegance, and problem-solving.
Detailed explanation-4: -They claimed that the cube’s function should be patented, not trademarked. After a 10-year legal battle, Simba Toys successfully removed the Rubik’s 3D cube trademark. This success was a big step to oppose monopolies of the puzzle toy. This ruling benefited Chinese companies that created modified speedcubes.