
Unit 4: Imperfect Competition
Authored by Travis Miller
Social Studies
11th - 12th Grade
Used 21+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In this market structure there is only one seller with a unique product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The airline industry is most likely in the market structure called
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Price fixing and collusion often occur in this type of market structure
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In this market structure there are many buyers and sellers with identical products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One firm dominates the market is known as a:
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Many companies selling very similar, but not identical products is known as:
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following best characterizes the firms in an oligopoly industry?
Firms can easily enter the industry when profits are high.
There are more firms than in a monopolistically competitive industry.
They are independent.
They always collude to increase profits.
They use strategic decision making.
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