Market Structures

Market Structures

12th Grade

26 Qs

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Market Structures

Market Structures

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Kathy Terrell

Used 1+ times

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a perfect competition?

1
2-5
Many

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Why does no one firm dominate in a perfect competition?

No firm wants to
Each firm sells to different people
Each firm produces so little of the total supply that they cannot influence prices
One firm will eventually dominate and make it a monopoly

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Factors that make it difficult for new firms to enter a market are called

Barriers to entry
Factors of production
Limited supply
Monopolistic Outlook

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a monopoly?

1
2-5
Many

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

An industry that is dominated by a few large firms is 

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

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Businesses can "Collude" or work together to set prices

Oligopoly
Monopoly
Perfect Competition

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A market structure characterized by firms producing similar product with easy entry into the market

Perfect Competition
Monopolistic Competition
Monopoly

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