
EPF Chapter 5 Vocabular
Authored by Scott Loosemore
Social Studies
9th - 12th Grade
Used 15+ times

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11 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A _____________ describes the key characteristics of a market, which include the number of firms and the similarity of the products they sell.
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
____________ is a market structure in which a large number of small firms sell identical products, and entry into the market is easy.
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A ___________ is an obstacle that makes difficult for a new firm to enter a market.
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A _____________ is a seller that has no control over the price of the product it sells.
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
____________ is a market structure in which a single seller sells a unique product.
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A _____________ is a market in which the average cost of production is lowest when only one firm supplies a good or service.
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A __________ is a seller that does not consider competition when setting its price.
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