Microeconomics Review
Authored by Josh Ciarletta
Business
9th - 12th Grade
Used 15+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This Market Structure is characterized by having:
Large # of large sellers
Some price control
Non-Price Competition
Monopoly
Monopolistic Competition
Oligopoly
Perfect Competition
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This Market Structure is characterized by having:
Only a few large sellers
High product identity (differentiation)
Interdependence
Possible Cartels
Monopoly
Monopolistic Competition
Oligopoly
Perfect Competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This Market Structure is characterized by having:
Infinite small sellers
identical products
no price control
Monopoly
Monopolistic Competition
Oligopoly
Perfect Competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This Market Structure is characterized by having:
1 seller
total price control
inefficiency
total barriers to entry
Monopoly
Monopolistic Competition
Oligopoly
Perfect Competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This type of BUSINESS ORGANIZATION is characterized by having:
Ease of start up
total control
the ability to change focus quickly
Sole Proprietorship
Partnership
Corporation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This type of BUSINESS ORGANIZATION is characterized by having:
Protection of private assets
Ability to raise money
Ability to have owners specialize in a specific tasks
Sole Proprietorship
Partnership
Corporation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This type of BUSINESS ORGANIZATION is characterized by having:
Infinite Lifespan
Raise LOTS of money quickly
Owners are only liable for their investment
Sole Proprietorship
Partnership
Corporation
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