Market Structures

Market Structures

10th Grade

8 Qs

quiz-placeholder

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Market Structures

Market Structures

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Easy

Created by

Marion Rojas

Used 6+ times

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8 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

Media Image

A ______ is a venue where the interaction of supply and demand take place.

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

There are only certain venues that can be considered a market.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The ease of sellers entering the market is a factor in any market structure.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In this kind of market structure, sellers don't have any control over the price of the products.

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which statement is NOT TRUE about monopoly?

It is difficult for other sellers to compete in the market.

Only one firm controls the supply and distribution of the product.

It is considered an imperfect competition

The firm doesn't have any control over the price of the product.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a monopolistic competition, sellers can market their products differently from other sellers hence, they have some control over the price of the product.

True

False

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A _____ is an organization composed of firms with the goal of having control over the price, quantity, and distribution of products for maximum profit.

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of monopolistic competition?

It would be easier and more cost efficient for the government to practice this market structure.

This market structure will require creativity and innovation from the sellers.

Potential sellers can easily enter the market since the products are not differentiated.