Vocab/Example FRQ (Oligopoly)
Quiz
•
Social Studies
•
5th Grade
•
Medium
Ethan Worthington
Used 15+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
How many firms are typically found in an oligopoly?
1 firm
2-5 firms
8-15 firms
100+ firms
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Morning Departure, because $700 > $900
Evening Departure, because $900 > $700
Morning Departure, because $1,000 > $750
Evening Departure, because $750 > $1,000
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Morning Departure, because $700 > $900
Evening Departure, because $900 > $700
Morning Departure, because $1,000 > $750
Evening Departure, because $750 > $1,000
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Morning, because $700 > $600
Evening, because $600 > $700
Morning, because $950 > $800
Evening, because $800 > $950
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Morning, because $700 > $600
Evening, because $600 > $700
Morning, because $950 > $800
Evening, because $800 > $950
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If a firm in an oligopolistic market has a "Dominant Strategy" that means the firm...
Should always pick a particular strategy (ex. sell for low price), regardless of what its competitors choose to do.
is DOMINANT (ie. way more profitable than all the other firms)
Must make decisions about pricing/advertising based on the particular decisions made by other firms.
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