Market Structures

Market Structures

9th - 12th Grade

35 Qs

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Market Structures

Market Structures

Assessment

Quiz

Social Studies

9th - 12th Grade

Hard

Created by

Kevin Ammons

Used 3+ times

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35 questions

Show all answers

1.

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

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Businesses can "Collude" or work together to set prices

Oligopoly
Monopoly
Perfect Competition

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following industries is an example of a monopoly?

utilities/water

department stores

auto industry

commercial airlines

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)

monopoly
oligopoly
perfect competition
monopolistic competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When firms agree to charge the same or similar prices for a product, this is known as

price-fixing

independent behavior

natural monopoly

laissez-faire

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Perfect competition is characterized by

a large number of sellers and buyers.
diverse products.
sellers acting together to set prices.
uninformed buyers and sellers.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

ABC, CBS, FOX and NBC are a great example of this market structure

Perfect Competition
Imperfect Competition
Oligopoly
Monopoly

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