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3.1 Market Structures

3.1 Market Structures

Assessment

Presentation

Social Studies

7th - 12th Grade

Practice Problem

Easy

Created by

Julie Malcom

Used 65+ times

FREE Resource

11 Slides • 15 Questions

1

3.1 Market Structures

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3

Open Ended

The "amount and degree of competition of firms in an industry" describes _______.

4

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5

Open Ended

Name 2 of the characteristics of a market.

6

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8

Open Ended

Besides an onion, give an example of a perfect competition and briefly explain why.

9

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10

Multiple Choice

Which one is NOT an imperfect competition?

1

oligopoly

2

monopoly

3

monopolistic competition

4

communism

11

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12

Multiple Choice

How many companies in the United States are "monopolistic competitions?

1

All of them

2

A majority of them

3

Only a few

13

Multiple Choice

Is advertising important to a monopolistic competition?

1

yes

2

no

14

Open Ended

Use Burger King and Whataburger to explain how they are examples of monopolistic competition.

15

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16

Multiple Choice

Is advertising important to an oligopoly?

1

Yes

2

No

17

Open Ended

One characteristic of an oligopoly is MANY BARRIERS TO ENTRY. Why is an airline a good example of this?

18

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19

Open Ended

What is the name of the global oil cartel? (it is a legal cartel)

20

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21

Multiple Choice

How much control over prices do monopolies have?

1

no control- the consumer controls the price

2

all of the control- the consumers have no say

3

its an agreement between the seller and the consumer

22

Open Ended

How many sellers are there in a monopoly?

23

Multiple Choice

How much variety of goods is there in a monopoly?

1

a lot of variety

2

no variety

3

some have variety and some do not

24

Open Ended

In your own words, why is "youtube" an example of a monopoly?

25

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26

Open Ended

Explain why the post office is an example of a monopoly?

3.1 Market Structures

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