
Market Structures
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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14 questions
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1.
FLASHCARD QUESTION
Front
In a Perfect Competition, products are basically..
Back
identical
2.
FLASHCARD QUESTION
Front
An Oligopoly is when there are
Back
few producers who control the market
3.
FLASHCARD QUESTION
Front
Their is only one supplier in this market structure.
Back
monopoly
4.
FLASHCARD QUESTION
Front
The effort by sellers to secretly set production levels or prices is called
Back
collusion
5.
FLASHCARD QUESTION
Front
Which is NOT a characteristic of a monopoly? Seller sets the market price, Firm sells a unique product, One seller
Back
Entry into the market is easy
6.
FLASHCARD QUESTION
Front
The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)
Back
monopolistic competition
7.
FLASHCARD QUESTION
Front
List the four market structures in order from least competitive to most competitive: Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition.
Back
Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
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