Market Structures Practice
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Matthew Chapman
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure is characterized by a single seller?
Oligopoly
Monopoly
Monopolistic Competition
Pure Competition
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure are there no barriers to entry?
Monopoly
Oligopoly
Monopolistic Competition
Pure Competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure typically involves differentiated products?
Monopoly
Oligopoly
Monopolistic Competition
Pure Competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure do firms have the most control over prices?
Monopoly
Oligopoly
Monopolistic Competition
Pure Competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Compare the number of sellers in an oligopoly to that in a monopolistic competition. Which statement is true?
Oligopoly has more sellers than monopolistic competition.
Monopolistic competition has more sellers than oligopoly.
Both have the same number of sellers.
Neither has any sellers.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure is most likely to have high barriers to entry, and why?
Pure Competition, because it requires unique products.
Monopoly, because it often involves control over resources or legal restrictions.
Monopolistic Competition, because of brand loyalty.
Oligopoly, because of the need for large capital investment.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain why product differentiation is important in monopolistic competition.
It allows firms to charge higher prices.
It reduces the number of competitors.
It increases barriers to entry.
It makes products identical.
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