This refers to the requirements for a large production plants to a feasible operation in the
industry.
PRE-FINAL REVIEW APPLIED ECONOMICS
Quiz
•
Business, Life Skills, Other
•
11th Grade - Professional Development
•
Hard
Marinelle Lopez
Used 13+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This refers to the requirements for a large production plants to a feasible operation in the
industry.
Scale barriers
Limited information
Legal barriers
Product Differentiation
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The kind of market structure with a lesser degree of market concentration but still with a
significant market power is observed since few sellers are colluding or forming a cartel to set the
price that would give the maximum profit for the industry.
Oligopoly
Perfect Competition
Monopsony
Monopoly
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This kind of market structure is considered the most concentrated with a single seller
determining the price that would maximize the profit of the business enterprise.
Oligopoly
Perfect Competition
Monopoly
Monopsony
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This framework was developed by Michael Porter.
SWOT Analysis
Environmental Scanning
PORTER’S Five Forces
Industry Analysis
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This refers to the number of sellers and buyers in the market.
Market Entry
Market Structure
Market Concentration
Product Differentiation
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
These are undesirable impacts of external factors because they can potentially impair the
profitability of firms in an industry.
Strengths
Weakness
Threats
Opportunities
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Positive impacts of various external environments on the profitability of an industry.
Strengths
Weakness
Threats
Opportunities
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