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WorksheetsMarket Structures
Total questions: 23
Worksheet time: 14mins
What is a monopoly?
A single owned market with one seller and no competition but very high market entry.
Multiple owned, lots of competition, easy entry
A board game
A market in which there are a few sellers, and one owner makes a lower price they all must low prices.
What is an oligopoly?
A single owned market with one seller and no competition, but very high market entry.
Multiple owned, lots of competition, easy entry
A market in which there are a few sellers, and one owner makes a low price, they all lower their prices.
off-brand board game
What is a pure competition?
Multiple owned, lots of competition, easy entry
A market in which there are a few sellers, and when one owner lowers prices, they all lower their prices.
A single owned market with one seller and no competition, but very high market entry.
a race
Pure competition has:
a large number of buyers and sellers
a low number of buyers and sellers
A large number of sellers with low buyers
What are a monopoly's prices controlled by?
The monopoly
The buyers
The other sellers
What are the characteristics of pure competition?
Sellers have similar products but buyers have difficulty getting a good price
Sellers sell similar products and buyers can easily find the cheapest product
sellers have differing products and buyers can easily find the cheapest product
What type of market is this image representing?
Pure competition
Oligopoly
Monopoly
Which market structure does this image represent?
Monopoly
Oligopoly
Pure Competition
What market structure does this image represent?
Pure competition
Oligopoly
Monopoly
Which market structures have more than 1 seller?
Pure Competition
Monopoly
Oligopoly
What is the most common market structure?
Oligopoly
Pure competition
Monopoly
Why are monopolies so rare?
Reasons that make it difficult for a business to enter a market are called
market barriers
walls
borders
What is a market?
An area where you buy food and greens
a website to buy anything
places where people exchange products
What are markets?
electronic
physical
both
What do markets consist of?
buyers and sellers
only sellers
only buyers
What does competition do to the price of a product?
lowers
stays the same
raises
What is the price of product in pure competition based on?
the other sellers
supply and demand
what you want it to be
nothing
which market is best for buyers?
monopoly
oligopoly
pure competition
which industries are usually pure competition?
agriculture
technology
energy
soda
which market structure is best for sellers?
monopoly
pure competition
oligopoly
What market has the most choices of products
Monopoly
Pure competition
Oligopoly
Which market has the price of some product sold by a seller affect the price that other sellers sell the same product.
Pure competition
Oligopoly
Monopoly
