Applied Economics_4th Monthly Exam

Applied Economics_4th Monthly Exam

12th Grade

35 Qs

quiz-placeholder

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Applied Economics_4th Monthly Exam

Applied Economics_4th Monthly Exam

Assessment

Quiz

Business

12th Grade

Hard

Created by

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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