Market Structures quiz

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?

• 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

under perfect competition what sets the equilibrium price in the market?

• nonprice competition

• supply and demand

• the government

• a monopoly

what condition is present in perfect competition but missing in monopolistic competition?

• marginal analysis

• identical products

• freedom of entry and exit

• very large number of buyers and sellers

Type of monopoly is based on lack of other available local competitors?

• Natural
• Government
• Technological
• Geographic

Type of Monopoly is based on Laws and regulations

• Natural
• Government
• Technological
• Geographic

Apple Iphone Market(in 2006)

• Natural
• Government
• Technological
• Geographic