
Market Structures Review
Quiz
•
Social Studies
•
11th Grade
•
Medium
Kismet El Husseiny
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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An industry that is dominated by a few large firms is
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses can "Collude" or work together to set prices
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the best definition of an oligopoly.
a market structure where a small number of firms control the market and set prices or output
a market structure where a single seller or producer assumes a dominant position in an industry or a sector.
a theoretical market structure where many buyers and sellers compete with identical products and perfect information.
when many companies offer products that are similar but not exact substitutes.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following industries is an example of a monopoly?
utilities/water
department stores
auto industry
commercial airlines
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT a characteristic of perfect competition?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A type of monopoly that arises because a single firm can supply a good or service to an entire market at a lower cost than could two or more firms.
Monopoly
Natural Monopoly
Price Discrimination
Cartel
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the laws called that outlaw monopolies?
Anti-monopoly
Anit-big business
Anti-trust
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