Market Structures Quiz
12th Grade
•15 Qs
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Market Structures Quiz
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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) .
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.
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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