Quiz 4

In economics, Market means a specific place

• True

• False

Modern communication such as Messager, Instagram and Tiktok make the market area for product exceptionally wide.

• False

• True

In order to call it market, buyer and seller should meet.

• True

• False

One of the characteristics of Market is it should have free competition which means you can easily entry and exit the market.

• True

• False

Suggested Retailed Price (SRP) is made to make sure there is a one price in the market

• True

• False

Fruit vendors is an example of ____________?

• Pure Competition

• Monopoly

• Oligopoly

• Monopolistic Competition

Car companies such as Toyota, Mitsubishi, Honda, Nissan and etc. is an example of ______?

• Pure Competition

• Monopoly

• Oligopoly

• Monopolistic Competition

Which market structure varies the price of their product according to quality and marketing

• Pure Competition

• Monopoly

• Oligopoly

• Monopolistic Competition

Which market structure has a few large firms in the industry?

• Pure Competition

• Monopoly

• Oligopoly

• Monopolistic Competition

Baliwag Water District is an example of ____________?

• Pure Competition

• Monopoly

• Oligooly

• Monopolistic Competition