
Market Structure Test
Authored by Nicholas Ward
Social Studies
12th Grade
24 Questions
Used 5+ times

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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What is a MONOPOLY?
a market structure with more than one seller of a particular product
a market structure with one seller of many products
a market structure with only one seller of a particular product
a market structure with
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
How do MONOPOLISTIC COMPETITORS make consumers aware of their product differences?
Non- price ceiling
Non- price competition
Non- price fixing
Non- price advertisement
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
MARKET STRUCTURE describes the nature and _____________ among firms in the same industry.
Marketing
Finance
Compatibility
Competition
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What is an OLIGOPOLY?
a market structure in which a few very large sellers dominate the industry
a market structure in which a few very large sellers share the industry power with smaller sellers
a market structure in which one very large seller shares the industry power with smaller sellers
a market structure in which one very large seller dominates the market
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Very large numbers, Identical products, and freedom of entry and exit are all necessary conditions for?
price fixing
perfect competition
non- price marketing
pure competition
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
____________ is a monopoly based on the absence of other sellers in a certain geographical area
Natural monopoly
Geographical monopoly
Technological monopoly
Government monopoly
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
When a 4th and 5th condition is added to pure competition, it is then called?
perfect competition
natural competition
pure competition
geographical competition
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