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WorksheetsOligopoly
Total questions: 15
Worksheet time: 8mins
How many firms are there in an oligopoly?
Many
Few
One
Eight
Are price wars an advantage or disadvantage?
Disadvantage
Advantage
What type of firms dominate in an oligopoly?
Small firms
Large firms
Start-ups
Which of these is an example of oligopoly
Paper Clips
Chips
Luxury Cars
DEWA
Why are collusions made?
To restrict competition
To increase choice
To introduce new entrants
None of the above
Which of the following is not a feature of an oligopoly
Collusion
Barriers to Entry
One firm dominates
Different Products
What do firms in a cartel do?
Join together and agree on price or output upon colluding
They compete against each other
Both
It is very easy to enter an oligopolistic market. True or False?
True
False
When firms attain economies of scale, their average costs will____.
Not change
Increase
Decrease
All of the above
Which of the following is a possible disadvantage of oligopoly
More choice
Innovation
Economies of Scale
Collusion
Smaller rivals in the market often survive because...
They do not compete directly with dominant firms,
They are small
No one knows them
Choice is an advantage for oligopolistic markets
True
False
Firms in an oligopoly are interdependent, so if one firm cuts the price, others are_____.
raise prices
forced to follow
not likely to follow
stay the same
Would consumers benefit if there is competition between firms in an oligopolistic market?
Yes
No
Which of these is a feature of an oligopoly?
Innovation
Few firms dominate
Economies of Scale
Price wars
