Market Structure

In perfect competition, the product is differentiated

• True
• False

In monopolistic competition there are many buyers and sellers

• True
• False

In which market structure is there the LEAST competition?

• Monopoly
• Oligopoly
• Monopolistic Competition
• Perfect Competition

In which market structure is there the MOST competition?

• Monopoly
• Oligopoly
• Monopolistic Competition
• Perfect Competition

Which type of market structures has many many producers(companies) that sell identical products and has no control over price?

• perfect competition
• monopolistic competition
• oligopoly
• monopoly

Which type of market structures has very few producers(companies) that control the majority of the market?
Hint: think of the soda market

• perfect competition
• monopolistic competition
• oligopoly
• monopoly

The jeans industry would fall into what type of market structure? ( jeans are similar but there are some differences in the product)

• monopoly
• oligopoly
• perfect competition
• monopolistic competition

Which of the following is NOT a Market Structure?

• Perfect Competition

• Oligopoly

• Monopoly

• Corporation

In the 1990s, PLDT controlled 80% of the phone industry and was the ONLY provider of long distance phone service. This is an example of

• Monopoly

• Monopolistic Competition

• Perfect Competition

• Oligopoly

This market structure has 3-4 firms who dominate 70-80% of the industry.

• Monopoly

• Monopolistic Competition

• Perfect Competition

• Oligopoly