Monopoly and Oligopoly
Quiz
•
Social Studies
•
12th Grade
•
Hard
John Robinson
FREE Resource
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
In the 1990s, AT&T controlled 80% of the phone industry and was the ONLY provider of long distance phone service. This is an example of
monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
MARKET DOMINATED BY A SINGLE SELLER
OLIGOPOLY
MONOPOLY
PERFECT COMPETITION
MONOPOLISTIC COMPETITION
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
AN AGREEMENT AMONG MEMBERS OF AN OLIGOPOLY TO SET PRICES AND PRODUCTION LEVELS.
PREDATORY PRICES
PRICE FIXING
CARTELS
COLLUSION
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
MARKET DOMINATED BY A FEW, LARGE PROFITABLE FIRMS THAT COLLUDE TO FIX PRICES
OLIGOPOLY
MONOPOLY
PERFECT COMPETITION
MONOPOLISTIC COMPETITION
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Their is only one supplier in this market structure.
monopoly
monopolistic competition
oligopoly
pure / perfect competition
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Airlines are examples of _________________.
purely / perfectly competitive markets.
monopolies.
oligopolies.
monopolistic competition.
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Oligopolies and monopolies are the same because ________.
They both have many buyers and sellers.
They both are the only sellers of their product.
They both have identical products.
They both have high barriers to entry.
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