Economics - Markets and Market Failures
Authored by Amanda Slaten
Social Studies
12th Grade
Used 57+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A market structure in which a few large firms dominate a market ...
Monopoly
Perfect competition
Oligopoly
Barriers to entry
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An illegal agreement among firms to divide the market, set prices, or limit production ...
Collusion
Oligopoly
Barriers to entry
Perfect competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods and services provided by the government ...
Externalities
Public Goods
Free-Rider Problem
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A market in which there are many buyers and many sellers of an identical product ...
Collusion
Monopoly
Oligopoly
Perfect competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Factors that make it difficult for a new firm to enter a market ...
Collusion
Barriers to entry
Oligopoly
Monopoly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Individuals benefit from public goods that don't help pay for them through taxes.
Externalities
Public Goods
Free-Rider Problem
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
“Side effects” of producing the good or service and can have a positive or negative affect on others.
Externalities
Public Goods
Free-rider problem
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