Markets, Monopolies, Market Failure

Markets, Monopolies, Market Failure

12th Grade

18 Qs

quiz-placeholder

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Markets, Monopolies, Market Failure

Markets, Monopolies, Market Failure

Assessment

Quiz

History

12th Grade

Hard

Created by

Maryann Johnson

FREE Resource

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monopolies are

Price Takers

Price Makers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Perfect competition is best described as a market with

few firms producing essentially the same product

many firms producing essentially the same product

many firms producing very different products

few firms producing very different products

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main characteristic of a monopoly market?

Only one seller or producer

Limited government intervention

Perfect competition

Multiple sellers or producers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure in which a few large firms dominate a market.

Oligopoly

Monopoly

Monopolistic Competition

Perfect Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure in which many companies sell products that are similar but not identical.

Monopolistic Competition

Oligopoly

Monopoly

Perfect Competition

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Choose the example that goes best with an oligopoly.
apples
cell phone providers
utilities
clothing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure is there the MOST competition?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition

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