Market Structures and Competition Practice Quiz

Market Structures and Competition Practice Quiz

12th Grade

25 Qs

quiz-placeholder

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Market Structures and Competition Practice Quiz

Market Structures and Competition Practice Quiz

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Christopher Grainger

Used 4+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There are many buyers AND sellers in this market structure.

monopoly

monopolistic competition

oligopoly

pure/perfect competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Their is only one supplier in this market structure.

monopoly

monopolistic competition

oligopoly

pure / perfect competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Differentiation is _________________.

having identical products.

copying another business.

small differences that make your product unique.

having control of the market value.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a perfect competition?

1
2-5
Many

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Factors that make it difficult for new firms to enter a market are called

Barriers to entry
Factors of production
Limited supply
Monopolistic Outlook

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How many firms are there in a monopoly?

1
2-5
Many

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

An industry that is dominated by a few large firms is 

monopolistic competition.
a monopoly.
perfect competition.
an oligopoly.

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