
Market Structure Quiz
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12th Grade
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT a characteristic of a monopoly?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perfect competition involves:
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What were the three types of economies of scale mentioned in the YouTube video on economies of scale?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The market for milk is an example of perfect competition. Why?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The town of Utopia has three gas stations. The owners of these gas stations make decisions together about when to raise and lower gas prices. It would be difficult for another gas station to enter this market. Which market structure best describes the market for gas in Utopia?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new firm recently arrived in Utopia offering much higher internet speeds than existing providers. The other providers have gone out of business because so many Utopian residents have switched to the new provider. What will most likely happen to the price of internet service in Utopia?
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
List the four market structures in order from least competitive to most competitive.
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