EPF Chapter 5 Vocabular

EPF Chapter 5 Vocabular

9th - 12th Grade

11 Qs

quiz-placeholder

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EPF Chapter 5 Vocabular

EPF Chapter 5 Vocabular

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Scott Loosemore

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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