Market Structures

Market Structures

12th Grade

15 Qs

quiz-placeholder

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Market Structures

Market Structures

Assessment

Passage

Social Studies

12th Grade

Practice Problem

Hard

Created by

MARISSA DECKER

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main characteristic of a monopoly?

Low differentiation and many competitors

Low differentiation and one competitor

High differentiation and one competitor

High differentiation and many competitors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main characteristic of perfect competition?

High differentiation and many competitors

Low differentiation and many competitors

High differentiation and one competitor

Low differentiation and one competitor

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a market with a few sellers and some differentiation in products?

Perfect competition

Monopolistic competition

Monopoly

Oligopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure has a single seller with low differentiation in products?

Monopoly

Monopolistic competition

Oligopoly

Perfect competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure can the seller set the price and quantity?

Oligopoly

Monopoly

Perfect competition

Monopolistic competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for a market with many competitors and high differentiation in products?

Oligopoly

Monopoly

Perfect competition

Monopolistic competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which industry is an example of perfect competition?

Unbranded PCs

Branded computers

Screw manufacturers

Fine dining

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