EPF - E.1.2 - Market Structures

EPF - E.1.2 - Market Structures

9th - 12th Grade

8 Qs

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EPF - E.1.2 - Market Structures

EPF - E.1.2 - Market Structures

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Jordan Lax

Used 15+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market for a good or service where there is only one supplier, or that is dominated by one supplier.

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure in which a few large firms dominate a market.

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure in which there are many buyers and sellers of an identical product.

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are barriers to entry?

Factors that make it difficult for a new firm to enter a market.

An illegal agreement among firms to divide the market, set prices, or limit production.

A market for a good or service where there is only one supplier.

A market in which there are many buyers and many sellers of an identical product.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A price taker is a seller that has no control over the price of the product it sells.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A barrier to entry is any obstacle that makes it difficult for a new firm to enter a market.

TRUE

FALSE

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A(n) __________ is a market structure characterized by a few large sellers, either an identical or a differentiated product, and difficult market entry.

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firm in monopolistic competition is a price _______.

MAKER

TAKER