Market Structures Quiz

Market Structures Quiz

12th Grade

15 Qs

quiz-placeholder

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Market Structures Quiz

Market Structures Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Violet Byrnes

Used 2+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure do firms have no market power to set their prices?

Perfect competition

Monopolistic competition

Oligopoly

Perfect monopoly

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which market structure is characterized by a single seller controlling the output of the industry?

Perfect competition

Monopolistic competition

Oligopoly

Perfect monopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure is product differentiation considered unimportant?

Perfect competition

Monopolistic competition

Oligopoly

Perfect monopoly

4.

DRAG AND DROP QUESTION

30 sec • 1 pt

The market structure that involves many buyers and sellers with identical products is called (a)   .

Perfect competition
Monopolistic competition
Oligopoly
Perfect monopoly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key feature of monopolistic competition?

No brand names

Product differentiation

Single seller

Few sellers

6.

DROPDOWN QUESTION

30 sec • 1 pt

(a)   has relatively few sellers, often up to 8 or 10.

Perfect competition
Monopolistic competition
Oligopoly
Perfect monopoly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure do sellers often watch their rivals when setting prices?

Perfect competition

Monopolistic competition

Oligopoly

Perfect monopoly

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