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Econ Review- 7, 8, 9

Authored by Kayle Gerchman

Social Studies

11th Grade

Used 3+ times

Econ Review- 7, 8, 9
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87 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Which is NOT a characteristic of perfect competition?

Numerous buyers and sellers
Standardized product
Differentiated product
Independent buyers and sellers

2.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Only one seller sells a product for which there are no close substitutes

Monopoly
Oligopoly
Monopolistic competition
Perfect competition

3.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Exists when many sellers offer similar, but not standardized products

Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition

4.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Exists when there are no other producers within a certain region

Natural monopoly
Government monopoly
Technological monopoly
Geographic monopoly

5.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Exists when the business controls a manufacturing method or an invention protected by a patent

Natural monopoly
Government monopoly
Technological monopoly
Geographic monopoly

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Postal service

Natural monopoly
Government monopoly
Technological monopoly
Geographic monopoly

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Water company

Natural monopoly
Government monopoly
Technological monopoly
Geographic monopoly

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