econ mp2/4

econ mp2/4

12th Grade

7 Qs

quiz-placeholder

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econ mp2/4

econ mp2/4

Assessment

Quiz

History

12th Grade

Practice Problem

Medium

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When many firms produce the same good or product, that is called _____

Perfect Competition

Scarcity

Equilibrium

Supplu

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Barriers to entry is when new firms and companies find it difficult to enter a market and make money

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When there is no competition for a company that is the single supplier of a good, that is called what?

Scarcity

Barriers of Entry

Monopoly

Oligopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When there are a few firms that sell the same product and make a lot of money that is called?

Oligopoly

Monopoly

Scarcity

Banking

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A partnership in economics terms means that multiple people work together to start a business or firm

FALSE

TRUE

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses owned by stockholders are called

Corporations

Mutual Fund

Savings

Private Entity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

shares are...

stocks that are issued in small amounts/portions

not real

scarcity

not used in the usa

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