Global MCQ Practice

Home > Finance > Economics > Market Dynamics > Market Structures > Market Structures – Quiz 12
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Market Structures Quiz 12 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. Collusion/ Cartels occur in this market structure
2. This is an illegal act in which companies agree to set the price of their good or service the same.
3. Number of Sellers:Are there many, few, or one seller(s) of the product? The more sellers there are, the more _____ the market is.
4. Which of the following is a table that shows the relationship between price and demand?
5. A relevant market contains a set of goods whose cross elasticities with others in the set are relatively high and whose cross elasticities with goods outside the set are relatively low
6. All of the following are true about advertising except that it
7. A seller in perfect competition has how much control over price?
8. Non-price Competition
9. One business is in complete control of the market
10. In an oligopoly, what is the term used to describe when firms collude to maximize their joint profits?
11. Which type of market structures has many producers (companies) and sell similar but different products from each other? These companies have a little control over the price and there are relatively low barriers to entry.
12. The U.S. Postal Service is an example (first-class mail only)
13. Avery, Evelyn, and Grace are studying about different types of monopolies in their economics class. They learned about a type of monopoly that is created by the government. Can you recall what it is called?
14. All of the following are examples of Oligopolies except?
15. Market structure is the selling environment where a firm _____ and sells its product.
16. Benjamin, Henry, and Anika are participating in a local farmers market. In this market, there are many other buyers and sellers as well. What type of market structure does this scenario represent?
17. Which of the following is true about a perfectly competitive market?
18. Under perfect competition, buyers and sellers
19. In this market, the producer is the least responsive to buyers' needs and wants.
20. All of the following are characteristics of oligopolies, EXCEPT
21. If a good has relatively few substitutes to take its place, what kind of elasticity is it more likely to have?
22. Which type of market structure is the sweatshirt industry?
23. In which market structure is there NON-PRICE competition?
24. Which market structure is characterized by many firms, differentiated products, and easy entry for new firms?
25. Government subsidies are more likely to shift a supply curve in which direction?
← PreviousNext →

Related Quizzes

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books