APPLIED ECONOMICS REVIEW
Authored by Judy Oyangorin
Other
12th Grade
Used 76+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A market structure were products are identical to competitors products
Monopoly
Monopolistic Competition
Oligopoly
Pure Competition
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In this market structure, one competitor doesn't have an edge over the others since all sellers are equal
Monopoly
Monopolistic Competition
Oligopoly
Pure Competition
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In this market structure, where one single firm dominates a market for a particular product
Monopoly
Monopolistic Competition
Oligopoly
Pure Competition
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In this market structure, wherein only few firms dominates the market and also sells homogeneous products
Monopoly
Monopolistic Competition
Oligopoly
Pure Competition
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A market situation wherein the firms cooperate with each other in determining products, outputs or both
Collusive
Non-collusive
All of the above
None of the above
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Check all the characteristics of a monopoly
they do not need to advertise their product
they try to avoid price competition due to fear of price wars
there must be no close substitutes for their products
They are the price setters or makers not the price takers
7.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
In a perfect competition, products are ______ to competitors products.
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