10 Week Economics Quiz
Authored by Christopher Green
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12th Grade
Used 4+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
This equals efficiency.
Natural Monopoly
Market Power
Statutory Regulation
Productivity
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
a firm’s ability to influence the price of a product or service
Natural Monopoly
Market Power
Statutory Regulation
Productivity
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
occurs when a single firm can supply a good or service to an entire market at a lower cost than if there were multiple competitors
Natural Monopoly
Market Power
Statutory Regulation
Productivity
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
as a firm expands production, costs per unit decrease
Monopoly
Oligopoly
Economies of Scale
Monopolistic Competition
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which one of these has the greatest market power?
Monopoly
Oligopoly
Economies of Scale
Monopolistic Competition
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which one of these may use collusion?
Monopoly
Oligopoly
Economies of Scale
Monopolistic Competition
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which one of these has to use differentiation to achieve market power?
Monopoly
Oligopoly
Economies of Scale
Monopolistic Competition
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