Markets

Which of the following is NOT a Market Structure?

• Perfect Competition

• Oligopoly

• Monopoly

• Corporation

Which market structure involves selling identical products?

• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly

Which law bans monopolies?

• Tea Act
• Anti-Trust Act
• Townsend Act
• Monopoly Act

Google controls 67% of the web search market. The company has grown and branched off into email, online maps, GPS tracking systems, online data storage and mobile phones. There are competitors like Microsoft and Yahoo, but they own just 18% and 11% of the market, respectively. Which market structure(s) best fit Google? (There are two possible answers, pick both)

• Perfect competition

• Monopolistic competition

• Oligopoly

• Monopoly

It is illegal for oligopolies to exert some control over price through...

• collusion.

• standardized products.

• price leadership.

• conglomerates.

How many firms are there in a perfect competition?

• 1
• 2-5
• Many

How many firms are there in a monopoly?

• 1
• 2-5
• Many

An industry that is dominated by a few large firms is 

• monopolistic competition.
• a monopoly.
• perfect competition.
• an oligopoly.