
Market Structures Quiz
Authored by Jervin Lee
Social Studies
University
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary characteristic of perfect competition?
Few dominant firms
Single seller
Large number of sellers
High barriers to entry
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure is characterized by product differentiation?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which market structure do firms have no control over market price?
Perfect Competition
Oligopoly
Monopoly
Monopolistic Competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a disadvantage of perfect competition?
Product differentiation
High prices for consumers
Limited incentive for innovation
High barriers to entry
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an oligopoly?
Clothing stores
Airline industry
Utility companies
Agricultural markets
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of monopolistic competition?
Product differentiation
High barriers to entry
Identical products
Single seller
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do monopolies typically affect consumer prices?
Lower prices
Variable prices
Higher prices
Stable prices
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