Unit 3 Test Review: Market Structures (E.16-E.28)
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Social Studies
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12th Grade
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Practice Problem
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Medium
Nathan Conrey
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33 questions
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1.
FLASHCARD QUESTION
Front
What is the type of competition called when companies compete through marketing strategies like aggressive social media campaigns, without lowering prices?
Back
Non-Price Competition
2.
FLASHCARD QUESTION
Front
In monopolistic competition, what happens when a firm begins to charge an excessive price for its product?
Back
Consumers will buy a rival firm’s product instead.
3.
FLASHCARD QUESTION
Front
What is the negotiation process between the union and management known as?
Back
collective bargaining
4.
FLASHCARD QUESTION
Front
Which of the following is an advantage of partnerships?
Back
They can attract and keep talented employees more easily than some business forms.
5.
FLASHCARD QUESTION
Front
Which of the following best describes price discrimination?
Back
the division of consumers into groups based on how much they will pay for a good
6.
FLASHCARD QUESTION
Front
What type of merger would it be if Chic Fil A were to merge with a company that raises and processes chickens?
Back
Vertical
7.
FLASHCARD QUESTION
Front
How have right-to-work laws affected union membership?
Back
They have decreased union membership.
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