Market Structures

Front

Which of the following is NOT a Market Structure?
Perfect Competition, Oligopoly, Monopoly, Corporation

Back

Corporation

Front

Which market structure involves selling identical products? Options: Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly

Back

Perfect Competition

Front

Markets like automobiles, cell phones, film production studios, and internet providers are examples of which market structure?

Back

Oligopoly

Front

How many firms are there in a perfect competition?

Back

Many

Front

Why does no one firm dominate in a perfect competition?

Back

Each firm produces so little of the total supply that they cannot influence prices.

Front

How many firms are there in a monopoly?

Back

1

Front

An industry that is dominated by a few large firms is

Back

an oligopoly.

Front

Businesses can "Collude" or work together to set prices. Options: Oligopoly, Monopoly, Perfect Competition

Back

Oligopoly

Front

A market structure characterized by firms producing similar product with easy entry into the market

Back

Monopolistic Competition

Front

Choose the example that goes best with an oligopoly: apples, cell phone providers, utilities, clothing

Back

cell phone providers