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WorksheetsCircular Flow and Market Structures
Total questions: 10
Worksheet time: 10mins
Which of the following is an example of a product market?
Amazon.com offering goods to consumers
Governments providing loans to businesses
Households providing labor to businesses.
Consumers paying taxes to the government
Which of the following is an example of a factor market?
The goods sold at Walmart.
Apple purchasing the natural resources needed to make iPhones.
McDonald's selling Big Macs "2 for $4".
Shoe Carnival having a "Buy One, Get One Half Off" sale.
Market structure in which a large number of firms produce the same product and no single seller controls the market.
Outstanding competition
Solid Competition
Pure Competition
None of the above None of the above
Which of the following is an example a "pure competition" market structure?
Cell phone service provider
Breakfast Cereals
Tomatoes
Haircuts
If there are many firms in an industry producing a similar good, but prices vary, this is an example of
Monopoly
Monopolistic Competition.
Pure Competition
Oligopoly
Which of the following is an example of Monopolistic Competition?
Tennis Shoes
Cucumbers
Airline Tickets
Cell Phone Service Providers
Only a few firms sell a product, prices are similar, there is very little market competition. This is an example of
Monopolistic Competition
Pure Competition
Monopoly
Oligopoly
Which of the following is an example of an oligopoly?
Haircuts
Cucumbers
Automobile Industry
Restaurants
One business has exclusive control of the supply of a product and controls the price of the product. This is an example of
Pure Competition
Monopoly
Oligopoly
Monopolistic Competition
Which of the following is NOT an example of a market structure?
Monopoly
Pure Competition
Commodity
Monopolistic Competition
