
Uni3MarketStructuresBusinessOrganizationsTestReview
Quiz
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Medium
Tom Rya
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60 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The most competitive (no advantage for a business based purely on the product) market structure is
perfect competition
monopolistic competition
monopoly
oligopoly
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Perfect competition is also referred to as ____ competition, because the seller has to compete based on things other than the product.
transparent
pure
clear
unlimited
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
All of the following are characteristics of perfect competition EXCEPT
many buyers and sellers
sellers offer identical products
buyers and sellers are well informed about the products
one firm dominates the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
As a result of many buyers and sellers in a perfectly competitive market
One individual controls the market
many buyers and sellers determine the market price of a product
2 individuals control the market
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
All of the following are products that could be considered perfectly competitive EXCEPT
stocks traded on the New York Stock Exchange.
Microsoft, Windows Operating System.
commodities such as gold and wheat.
agricultural products such as corn and tomatoes.
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A product that is considered the same regardless of who makes it is called a
commodity
firm
good
service
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
All of the following would be considered a commodity EXCEPT
onions
wheat
jeans
tomatoes
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