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Quizz on monopoly IGCSE GRD 9

Authored by Devate 11111

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8th - 12th Grade

Used 2+ times

Quizz on monopoly IGCSE GRD 9
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

when a major car company lowers its prices, other car makers will probably

maintain existing prices

raises their prices

go out of business

lower their prices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which market has no competition

perfect competition

oligopoly

monopoly

monopolistic competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which scenario is an example of a monopoly?

A local water company is the sole provider of water for a small town.

A dry cleaner specializes in environmentally friendly cleaning methods.

A farmer produces green beans for sale at a farmers market.

A small number of cereal companies produce most of the cereal on the market.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure in which only one producer supplies a good that is in demand is called

monopoly

oligopoly

competition

monopolistic competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market structure involves only one firm and has very high barriers to entry ?

monopoly

oligopoly

monopolistic competition

perfect competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what prevents firms from entering a monopoly?

barriers to entry

technology

price

barriers to travel

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which is not a characteristic of a monopoly?

sellers sets the market price

entry in to the market is easy

firm sells a unique product

one seller

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