
Unit 1 Test Review (EPF)
Authored by Joshua Strickland
Social Studies
10th Grade
Used 15+ times

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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a town has only one gas station then the market for gas in that town is in which market structure?
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5 cell phone makers control about 85% of the market for cell phones so they are in what market structure:
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ton of companies make clothing but some brands are able to charge more because of perceived status or quality. this puts them in which market structure
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure has the MOST competition in the marketplace?
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a market has more competition between firms in the market what will happen to price for the product in that market?
It will rise
It will fall
stays the same
Unknowable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following phase of business cycle would you expect to see the unemployment rate increasing?
Expansion
Contraction/recession
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following phase of business cycle would you expect to see productivity declining?
Expansion
Contraction/recession
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