Font size
WorksheetsMarket Structures
Total questions: 13
Worksheet time: 3hrs 15mins
List the four market structures in the 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
Which of the following industries is an example of a monopoly?
Water Utilities
Departments Stores (Debenhams, John Lewis, M&S)
Auto Industry (Ford, Vauxhall, BMW, Honda, Toyota)
Airlines (BA, American Airlines, Cathay Pacific, Easy Jet)
An industry or market that is dominated by a few firms is
a Monopoly
an Oligopoly
a Competitive market
A single supplier that constitutes the entire industry is an example of
an Oligopoly
a Competitive Market
a Monopoly
Select all the kinds of barriers of entry:
High capital costs (fixed costs)
High sunk costs
Strong brand image
Patent
Markets with very few barriers to entry are usually
Monopolies
Oligopolies
Competitive Markets
A market structure where each firm is a small part of the total industry in which it operates is
an oligopoly
a monopoly
a competitive market
monopolistic competition
The market for razor blades is dominated by Procter and Gamble's Gillette and Edgewell Personal Care's razors. What level of barriers of entry are there in this market?
Low
None
High
Fill in the blank. Income Elasticity of Demand is the responsiveness of quantity demanded to a change in _______.
Price
Income
Quantity Supplied
Equilibrium
Fill in the blank. Cross Elasticity of Demand is the responsiveness of quantity _________ of one good to a change in the price of another.
Supplied
Demanded
Requested
Bargained
