What is a key characteristic of perfect competition that allows firms to enter the market easily?
PERFECT COMPETITION ECON AP THRIFT SHOP PARODY

Interactive Video
•
Business
•
11th Grade - University
•
Hard
Quizizz Content
FREE Resource
Read more
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Monopoly power
Easy market entry
High barriers to entry
Unique product offerings
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a perfectly competitive market, what happens when a firm tries to raise its prices?
It experiences short-term losses
It increases its market share
It becomes a monopoly
It gains more customers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the long-term outcome for firms in a perfectly competitive market?
They become monopolies
They achieve normal profits
They incur constant losses
They make supernormal profits
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under what condition might a firm in perfect competition decide to shut down?
When total revenue exceeds total cost
When marginal cost is greater than marginal revenue
When demand is below average variable cost
When demand is above average variable cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to resources in a perfectly competitive market when there is a price change?
Resources become more expensive
Resources become cheaper
Resources remain constant
Resources are unaffected
Similar Resources on Wayground
2 questions
Introduction to Oligopoly Markets: Characteristics and Pricing Strategies

Interactive video
•
11th Grade - University
3 questions
Perfect Competition Long-Run (2 of 2)- Old Version

Interactive video
•
11th Grade - University
6 questions
Understanding Perfect Competition: Conditions and Dynamics

Interactive video
•
11th Grade - University
2 questions
Understanding How Prices Work in a Free Market

Interactive video
•
11th Grade - University
6 questions
3rd Place- 2012 AP Econ Video- Rolling in the Green (Monopolistic Competition)

Interactive video
•
11th Grade - University
3 questions
3rd Place- 2012 AP Econ Video- Rolling in the Green (Monopolistic Competition)

Interactive video
•
11th Grade - University
2 questions
Micro Unit 3, Question 11- Perfect Competition

Interactive video
•
11th Grade - University
2 questions
Micro Unit 4, Question 1- Monopoly Demand and MR

Interactive video
•
11th Grade - University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade