Market Structure Quiz

Market Structure Quiz

12th Grade

10 Qs

quiz-placeholder

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Market Structure Quiz

Market Structure Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Mikayla Cerwinske

Used 7+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following factors does not affect market structure?

Quantity of producers

Product similarity

Weather conditions

Ease of entry

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when more producers enter a market?

Competition decreases

Prices increase

Competition increases

Product quality decreases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure are products nearly identical and producers have no control over pricing?

Monopoly

Monopolistic Competition

Oligopoly

Perfect Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term refers to goods that are produced in the same way regardless of the producer?

Brand goods

Differentiated products

Commodities

Oligopolies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key characteristic of a monopoly?

Many competitors

Identical products

One producer with complete market power

Easy entry for new companies

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A monopoly that exists because one company controls a natural resource is known as a:

Government-Created Monopoly

Natural Monopoly

Resource Monopoly

Utility Monopoly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In an oligopoly, how are prices typically influenced?

Determined by government

Based entirely on consumer demand

Set randomly by each company

Influenced by decisions of competing businesses

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