Four Market Structures

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

Using the pizza store graphic, what market structure best fits the pizza industry?

• Monopoly

• Oligopoly

• Perfect competition

• Monopolistic competition

____________ for ice cream will _____________ when the weather is cold.

• Demand, decrease

• Monopoly, demand

• Demand, increase

• Demand, supply

As the price goes up, what happens to the quantity demanded?

• Increases

• Decreases

In which market structure is there the LEAST competition?

• Monopoly
• Oligopoly
• Monopolistic Competition
• Perfect Competition

In which market structure is there the MOST competition?

• Monopoly
• Oligopoly
• Monopolistic Competition
• Perfect Competition

Which type of market structures has many many producers(companies) that sell identical products and has no control over price?

• perfect competition
• monopolistic competition
• oligopoly
• monopoly

Which type of market structures has very few producers(companies) that control the majority of the market?
Hint: think of the soda market

• perfect competition
• monopolistic competition
• oligopoly
• monopoly

Which scenario is an example of a monopoly? 

• A local water company is the sole provider of water for a small town.
• A dry cleaner specializes in environmentally friendly cleaning methods.  
• A farmer produces green beans for sale at a farmer's market.
• A small number of cereal companies produce most of the cereal on the market.