Market Structures

Market Structures

12th Grade

20 Qs

quiz-placeholder

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Market Structures

Market Structures

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Alan Green

Used 9+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a perfect competition?

1

2-5

Many

70

2.

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

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a monopoly?

1

2-5

Many

70

4.

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.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Businesses can "Collude" or work together to set prices

Oligopoly

Monopoly

Perfect Competition

Pure Competition

6.

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

Oligopoly

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Choose the example that goes best with an oligopoly.

apples
cell phone providers
utilities
clothing

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