Market Structures

Market Structures

12th Grade

•

32 Qs

quiz-placeholder

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Market Structures

Market Structures

Assessment

Quiz

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Social Studies

•

12th Grade

•

Medium

Created by

Laquanta Jackson

Used 6+ times

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32 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

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

What prevents firms from entering a monopoly?

Barriers to Entry

Technology

Price

Barriers to Travel

6.

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.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Businesses can "Collude" or work together to set prices

Oligopoly
Monopoly
Perfect Competition

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