Market Structures Quiz
Authored by Sandra Mendoza Garcia
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12th Grade
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22 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a classification that describes the nature and degree of competition among firms in the same industry?
Market structure
Oligopoly
Monopoly
Collusion
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which market structure is characterized by very large numbers, identical products, and freedom of entry and exit?
Monopolistic competition
Pure competition
Oligopoly
Monopoly
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What term describes the group of firms that produce identical or similar products?
Industry
Collusion
Monopoly
Laissez faire
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which market structure is characterized by a large number of well-informed independent buyers and sellers who exchange identical products and have freedom of entry and exit?
Perfect competition
Monopoly
Oligopoly
Monopolistic competition
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a market structure that has all of the conditions of pure competition except for identical products?
Monopolistic competition
Pure competition
Oligopoly
Monopoly
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What term refers to real or perceived differences between competing products in the same industry?
Product differentiation
Non-price competition
Collusion
Laissez faire
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the use of advertising, giveaways, or other promotions designed to convince buyers that the product is somehow unique or fundamentally better than its competitors'?
Non-price competition
Product differentiation
Collusion
Monopoly
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