Econ - Unit 4 Review - Markets, Labor, and Businesses
Authored by Kelsey Paden
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12th Grade
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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Highest level of competition - Prices completely determined by supply and demand (Price Takers)
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
No competition - One business sells the product - Price Maker
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only a few sellers dominate the market - Sell similar products - Strong barriers to entry
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Differentiated yet similar products - Very high level of competition - Many firms competing
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increased property values after a new shopping mall opens is an example of a...
Positive Externality
Negative Externality
Public Good
Free Rider
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increased traffic or noise pollution after a new shopping mall opens is an example of a...
Positive Externality
Negative Externality
Public Good
Free Rider
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Goods paid for by the government from tax dollars that benefit everyone.
Positive Externality
Negative Externality
Public Goods
Free Rider
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