Marketing 3.3 Types of Economic Competition
Quiz
•
Specialty
•
11th - 12th Grade
•
Medium
Shelly Leifer
Used 69+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In pure competition, a large number of suppliers offer very similar products.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business in monopolistic competition has no control over price if it wants to sell its products.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a monopoly, customers will pay a higher price because there are no alternative products to those of the supplier.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A cable television company usually operates in a pure competition environment.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The airline industry is an example of an oligopoly.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The most common type of economic competition facing most businesses is pure competition.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses in monopolistic competition should focus on making their products different from and better than competitors' products.
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