
Market Structures Flashcard

Flashcard
•
History
•
12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Ethan and Mia are selling apples at a local market. They both sell identical apples with no difference in quality or price. Which market structure does this scenario represent?
Back
Perfect Competition
2.
FLASHCARD QUESTION
Front
Which market structure did AT&T fall under when they were the only company providing long distance telephone service?
Back
Monopoly
3.
FLASHCARD QUESTION
Front
Which market structure do automobiles, cell phones, cable TV, and internet providers belong to?
Back
Oligopoly
4.
FLASHCARD QUESTION
Front
Perfect competition is characterized by...
Back
A large number of sellers.
5.
FLASHCARD QUESTION
Front
What type of monopoly does Aiden have if he has developed a unique software algorithm that no one else can replicate, giving him exclusive control over the market for this type of software?
Back
Technological Monopoly
6.
FLASHCARD QUESTION
Front
In a small town, Charlotte owns the only bakery due to its unique location. This market structure is a...
Back
Geographic Monopoly
7.
FLASHCARD QUESTION
Front
Which scenario is an example of a monopoly? A) A small number of cereal companies produce most of the cereal on the market, B) A dry cleaner specializes in environmentally friendly cleaning methods, C) A farmer produces green beans for sale at a farmer's market, D) A local water company is the sole provider of water for a small town
Back
A local water company is the sole provider of water for a small town
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