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market structure quiz review

Authored by Shania Marshall

Business, Other, Education

9th - 12th Grade

market structure quiz review
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Land, labor, capital, and entrepreneurship are bought and sold in:

factor markets

firms

households

product market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

identify #2 in the model

firms

households

product market

factor market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure is defined by a single product?

pure competition

monopoly

monopolistic competition

oligopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under perfect competition, what sets the equilibrium price in the market?

supply and demand

a monopoly

the government

nonprice competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What condition differentiates a market of pure competition from one of monopolistic competition?

competition

firms

price

products

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure is defined by a single producer?

oligopoly

monopoly

monopolistic competition

pure competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a monopoly is

an industry where the government provides all the output.

a license that gives the inventor of a new product to sell it

a market dominated by a single seller.

an industry that runs best when one firm produces all the output.

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