
Market Structures
Quiz
•
Business
•
12th Grade
•
Practice Problem
•
Hard
Michael Clark
Used 1+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the four primary types of market structures?
Socialism, communism, capitalism, fascism
Perfect competition, monopoly, oligopoly, and monopolistic competition
Supply and demand, equilibrium, surplus, shortage
Retail, wholesale, distribution, manufacturing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure do firms have no control over the price of their products?
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a monopoly market structure?
Multiple sellers with identical products
Only one seller with no close substitutes
One seller with many close substitutes
No barriers to entry for new firms
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure do firms produce identical products and have no control over the price?
Oligopoly
Monopolistic competition
Monopoly
Perfect competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of an oligopoly market structure?
Only one firm controlling the entire market
A small number of large firms dominating the market
No competition in the market
A large number of small firms dominating the market
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a monopolistic competition market structure?
Limited number of firms
Government control
Differentiated products
Identical products
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of firms in a perfect competition market structure?
Maximize profits
Maximize consumer satisfaction
Maintain a monopoly
Minimize profits
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