Market Structures Unit Test

Market Structures Unit Test

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

DOK Level 1: Recall, DOK Level 2: Skill/Concept

Standards-aligned

Created by

Wayground Content

FREE Resource

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34 questions

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1.

FLASHCARD QUESTION

Front

Philosophy that government should not interfere with commerce or trade.

Back

Laissez Faire

2.

FLASHCARD QUESTION

Front

The nature and degree of competition among firms operating in the same industry.

Back

Market Structure

3.

FLASHCARD QUESTION

Front

Large number of well-informed independent buyers and sellers who exchange identical products.

Back

Perfect Competition

4.

FLASHCARD QUESTION

Front

To a market structure that lacks one or more of the conditions of perfect competition.

Back

Imperfect Competition

5.

FLASHCARD QUESTION

Front

The market structure that has all the conditions of perfect competition except for identical products.

Back

Monopolistic Competition

6.

FLASHCARD QUESTION

Front

Real or imagined differences between competing products in the same industry.

Back

Product Differentiation

7.

FLASHCARD QUESTION

Front

The use of advertising, giveaways, or other promotional campaigns to convince buyers that the product is somehow better than another brand.

Back

Non-price Competition

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