
Competition and Market Structures
Authored by Eric Hammond
Social Studies
12th Grade
Used 9+ times

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13 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a market structure where a few large companies control most of the industry and its prices?
Monopoly
Oligopoly
Perfect competition
Monopsony
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which business structure protects its owners from personal liability while allowing flexibility in management and taxation?
Sole proprietorship
Partnership
Corporation
Limited liability company (LLC)
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is it called when two companies at different stages of production combine to improve efficiency and reduce costs?
Horizontal integration
Vertical integration
Conglomerate merger
Joint venture
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are rules created to prevent companies from unfairly limiting competition in the market?
Trade regulations
Antitrust laws
Labor laws
Environmental regulations
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the term for situations where the government is the sole provider of a service or product, often because it is essential for public welfare?
Monopoly
Public enterprise
Nationalization
Natural monopoly
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a business model where an individual can operate a branch of a larger company using its brand and system?
Franchise
Partnership
Corporation
Cooperative
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What type of business is owned and run by one person who receives all profits and is responsible for all debts?
Corporation
Partnership
Sole proprietorship
Limited liability company (LLC)
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