Topic 4 Review: Market Structures
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Sherry Parker
Used 1+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To operate a business in a 'national park', a business is granted a franchise by
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these factors causes a monopolistically competitive firm to have little control over the price of its product?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Purely competitive markets are
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a natural monopoly?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which two markets have relatively high barriers to entry?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppose a firm is looking to enter a market, but it quickly realizes that its employees do not have the technical skills needed for the firm to compete in that market. What do economists call the factor that is keeping this firm out of that market?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
•One seller •Complete barriers to market entry •No product differentiation. This list describes characteristics of which of the following market structures?
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