CHP 4: MARKET STRUCTURE

CHP 4: MARKET STRUCTURE

University

20 Qs

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CHP 4: MARKET STRUCTURE

CHP 4: MARKET STRUCTURE

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

ashikin zulkepli

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In perfect competition, the product is differentiated

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In monopolistic competition there are many buyers and sellers

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure is there the LEAST competition?

Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which market structure is there the MOST competition?

Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which scenario is an example of a monopoly? 

A local water company is the sole provider of water for a small town.
A dry cleaner specializes in environmentally friendly cleaning methods.  
A farmer produces green beans for sale at a farmer's market.
A small number of cereal companies produce most of the cereal on the market.

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

Monopoly
Monopolistic Competitio
Perfect Competitio
Oligopoly 

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