
Applied Economics_4th Monthly Exam

Quiz
•
Business
•
12th Grade
•
Hard
JOCELYN GUEVARRA
Used 8+ times
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. A formal organization of producers that agree to coordinate prices and production...
Monopoly
Cartel
Oligopoly
Perfect Competition
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. Levi's jeans are example of...
Monopolistic Competition
Oligopoly
Monopoly
Perfect Competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. An exclusive right granted for an invention, which is a product or a process that provides a new way of doing something, which could lead to Monopolies cerated.
Copyright
Trademark
Rights
Patent
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. A barrier to entry is
An obstacle that makes it difficult for new firms to enter a market.
A law established by the government to protect new industries
A commitment on the part of big business to allow smaller companies to compete.
None of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. A market that has a few sellers of basically the same goods.
Perfect Competition
Monopolistic Competition
Pure Monopoly
Oligopoly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. All buyers and sellers have sufficient information to maximize self-interest.
Perfect Competition
Monopolistic Competition
Pure Monopoly
Oligopoly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. Electricity and water are an example of...
Perfect Competition
Monopolistic Competition
Natural Monopoly
Oligopoly
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