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Unit 3 Vocab Quiz

Authored by Sara Howard

Social Studies

11th - 12th Grade

Used 27+ times

Unit 3 Vocab Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

market characterized by one seller of a product, high barriers to entry, illegal in the US

monopoly

oligopoly

pure/perfect competition

monopolistic competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

market characterized by a few large sellers in the market, some may practice collusion, high barriers to entry

monopoly

oligopoly

pure/perfect competition

monopolistic competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

market characterized by a large number of buyers and sellers, identical product, well informed buyers and sellers, hard to find in real world

monopoly

oligopoly

pure/perfect competition

monopolistic competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

market characterized by large number of buyers and sellers, product is similar, price is set by the market

oligopoly

monopoly

pure/perfect competition

monopolistic competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

economic system in which the three economic questions are answered by tradition, growth is not encouraged, slow to change

traditional

command

market

mixed

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

economic system in which the three economic questions are answered by the government, tend to fail, quick to change

traditional

command

market

mixed

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

economic system in which the three economic questions are answered by supply and demand, resource use may be inefficient, laissez-faire

traditional

command

market

mixed

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