
Market Structures 2
Authored by Kevin Chuah
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University
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20 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a Perfect Competition, products are basically..
differentiated
identical
similar
opposite
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a Perfect Competition, the biggest factor in setting price levels is..
supply/demand
the stock market
celebrity endorsements
price of substitute products
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In a market that is in Perfect Competition, you would normally find ___
few barriers to entry- easy to enter/exit the market
difficulty in entering the market
government regulations restricting new producers
high taxes and fees making it too expensive to enter
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In Monopolistic Competition you would find that purchases are made generally based on __
supply/demand
brand loyalty
price
price of substitute products
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An Oligopoly is when there are
few producers who control the market
only one producer
an open market with plenty of producers
a market that hasn't yet been discovered
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The market for agricultural produce is an example of:
monopoly
oligopoly
monopolistic competition
perfect competition
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Coke and Pepsi are the main producers and control the soda market. This is an example of:
Oligopoly
Monopoly
Monopolistic Competition
Perfect Competition
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