Market Structure Economics

Market Structure Economics

10th Grade - University

25 Qs

quiz-placeholder

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Market Structure Economics

Market Structure Economics

Assessment

Quiz

Social Studies

10th Grade - University

Medium

Used 67+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

If several firms decide together to set the market price below their costs for the short term to drive competitors out of business, they are participating in

predatory pricing.

price discrimination.

differentiation.

economies of scale.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A market that is an oligopoly has

many buyers and sellers.

many firms selling slightly different products.

a few firms dominating the market.

one seller and many buyers.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

One role of the federal government's Justice Department is to

encourage price fixing.

break up monopolies.

provide businesses with loans for start-up costs.

eliminate all barriers to entry.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A natural monopoly is a market that runs most efficiently when it has

few sellers and only one buyer.

many sellers and many buyers.

one large firm providing all output.

few government regulations.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Public water is an example of a(n)

oligopoly.

natural monopoly.

cartel.

trust.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Government is concerned with all of the following practices of oligopolies EXCEPT

price leadership.

low barriers to entry.

collusion.

cartels.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A patent, a license to operate a business, and a franchise

are given to anyone who applies for them.

are only available in a perfect competition market structure.

are ways that the government can create a monopoly.

encourage low prices.

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