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Microeconomics Test Review

Authored by Catherine Eisele

Social Studies

9th Grade

Used 4+ times

Microeconomics Test Review
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24 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The food court at the mall is an example of which type of market structure?

Monopoly

Oligopoly

Perfect Competition

Monopolistic Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After a product is made, what is the next step in the chain of production?

Raw Goods

Retail

Warehouse

Home

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Which word does this definition match:

A product whose demand falls when income rises

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wat is the equation for opportunity cost?

Give up/ Gain

B-C/C-B

mx+b=y

Supply/ demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure has the fewest barriers to entry?

Monpoly

Monopolistic Competition

Oligopoly

Monopolistic Competition

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

On the PPC, where can inefficient points be found?

Below the line

To the left of the line

Above the line

On the Line

To the right of the line

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What market structure offers the least amount of choice to consumers?

Monoploy

Oligopoly

Monopolistic Competition

Perfect Competition

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