Competition Test

Competition Test

12th Grade

37 Qs

quiz-placeholder

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Competition Test

Competition Test

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Nikki West

Used 1+ times

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37 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A monopoly controls the market price by controlling supplies.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The presence of many sellers and buyers is a condition for a pure monopoly.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most U.S. businesses represent some form of imperfect competition.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a situation of monopolistic competition, the leading companies in an industry have as much control over price as a company with a pure monopoly.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a perfectly competitive market, prices are set by the interaction of buyers and sellers.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In imperfect competition, advertising is most important to monopolistic competition.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prices in monopolistic competition can be most influenced by:

A. state governments

B. corporate structure

C. product differentiation

D. store management

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