Monopolies Quiz

Monopolies Quiz

10th Grade

10 Qs

quiz-placeholder

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Monopolies Quiz

Monopolies Quiz

Assessment

Quiz

Social Studies

10th Grade

Medium

Created by

Ashley Glover

Used 4+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A monopoly is when:

One seller/business dominates an industry.

A few sellers/businesses dominate an industry.

Supply exceeds demand.

A business offers special gifts and coupons.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are monopolies usually illegal in the US?

They deprive the consumer of choices.

They force the consumer to pay high prices.

They make it difficult for new companies to enter the market.

All of the above.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which picture is an example of a government monopoly?

Media Image
Media Image
Media Image
Media Image

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In an oligopoly...

One seller dominates the market

A few sellers dominate the market

Many sellers are in the market

No sellers exist in the market

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes the selling of the same product to different consumers at different prices?

Price discrimination

Interdependent Pricing

Price competition

The Price is Right with Bob Barker

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a government license that gives the inventor of a new product the exclusive right to produce and sell it

patent

license

market power

economies of scale

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John D. Rockefeller's ________________________ held a monopoly since he controlled 90% of the oil refiner

Standard Oil Co.

United Steel

Pacific Railroad

Light Bulb

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