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Market Structure Definitions

Authored by John Robinson

Social Studies

12th Grade

Market Structure Definitions
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Coke and Pepsi are the main producers and control the soda market. This is an example of:

Oligopoly

Monopoly

Monopolistic Competition

Perfect Competition

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

When buying produce at the grocery store, many people shop around for the best deal, because when it comes down to it, an apple is an apple. This is an example of:

monopoy

monopolistic competition

oligopoly

perfect competition

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Buyers have few choices when it comes down to satellite TV and internet providers. Basically, the producers are pretty much the same. This is an example of

monopoly

oligopoly

monopolistic competition

perfect competition

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Your family can only get electricity or natural gas to their home through one provider. There is no other option. This is an example of_

monopoly

monopolistic competition

oligopoly

perfect competition

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market for agricultural produce is an example of:

monopoly

oligopoly

monopolistic competition

perfect competition

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Nike signed Michael Jordan in 1984 in order to get more young people to buy Nike instead of Converse or adidas. They tried to show their shoe was cool and therefore superior. This is-

monopoly

monopolistic competition

oligopoly

perfect competition

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Factors that make it difficult for new firms to enter a market are called

Barriers to entry

Factors of production

Limited supply

Monopolistic Outlook

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