Quizz on monopoly IGCSE GRD 9

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

which market has no competition

• perfect competition

• oligopoly

• monopoly

• monopolistic competition

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.

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

• monopoly

• oligopoly

• competition

• monopolistic competition

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

• monopoly

• oligopoly

• monopolistic competition

• perfect competition

what prevents firms from entering a monopoly?

• barriers to entry

• technology

• price

• barriers to travel

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

which of the following is most likely an example of a monopoly?

• A star bucks across from Dunkin donuts

• A gas station in the country by itself

• 3 fast food restaurants all on the same street

• A Kroger 4 miles away from a Walmart

monopolies can control the price of a product because

• they are evil

• they are illegal

• they have a unique product

• the government supports them

google is an example of

• oligopoly

• monopoly

• perfect competition

• monopolistic competition