Market Structures

Market Structures

9th - 12th Grade

19 Qs

quiz-placeholder

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Market Structures

Market Structures

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Bill Hughes

Used 129+ times

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19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This market structure is characterized by the lowest level of competition among producers.

monopolistic competition

monopoly

oligopoly

perfect competition

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

List the four market structures in the order from least competitive to most competitive.

Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition

Perfect Competition, Oligopoly, Monopoly, Monopolistic Competition

Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition

Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An industry or market that is dominated by a few firms is

a Monopoly

an Oligopoly

a Competitive market

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)

monopoly
oligopoly
perfect competition
monopolistic competition

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which scenario is an example of a monopoly? 

A local water company is the sole provider of water for a small town.
A dry cleaner specializes in environmentally friendly cleaning methods.  
A farmer produces green beans for sale at a farmer's market.
A small number of cereal companies produce most of the cereal on the market.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Suppose that company XYZ produces an undifferentiated product in a single plant in a highly competitive market. The price is determined by market factors like demand and supply.

monopoly

monopolistic competition

oligopoly

perfect competition

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When a major car company lowers its prices, other car makers will probably 

maintain existing prices.
raise their prices.
go out of business.
lower their prices.

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