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WorksheetsMarket Structure
Total questions: 15
Worksheet time: 8mins
Hint: think of the soda market
Which of the following is NOT a Market Structure?
Perfect Competition
Oligopoly
Monopoly
Corporation
In the 1990s, PLDT controlled 80% of the phone industry and was the ONLY provider of long distance phone service. This is an example of
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
This market structure has 3-4 firms who dominate 70-80% of the industry.
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
List the four market structures in order from least competitive to most competitive.
Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition
Perfect Competition, Oligopoly, Monopoly, Monopolistic Competition
Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly
What is not part of perfect competition?
buyer/ seller are well informed
sellers cannot enter/ exit market easily
low prices
few barriers of entry
When a major car company lowers its prices, other car makers will probably
maintain existing prices.
raise their prices.
go out of business.
lower their prices.
Perfect competition is characterized by
a large number of sellers and buyers.
diverse products.
sellers acting together to set prices.
uninformed buyers and sellers.
Which is NOT a characteristic of a monopoly?
Seller sets the market price
Entry into the market is easy
Firm sells a unique product
One seller
