AICS ECO121 SIR AJE
Authored by Aje Barretto
Social Studies
12th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How many firms are there in a perfect competition?
Mao nani kay wala nagtuon.
1
3 to 4 only
Many
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Factors that make it difficult for new firms to enter a market are called____?
Backer
Barriers to entry
Free Entry
Membership
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How many firms are there in a monopoly?
1
2
3
Many
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the term for a market structure with only one seller?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not a characteristic of perfect competition?
Homogeneous product
Many buyers and sellers
Barriers to entry
Perfect information
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the term for a market structure with a few large firms dominating the market?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a market structure with a single buyer?
Monopsony
Oligopsony
Monopolistic Competition
Perfect Competition
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