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Market Structures

Authored by Dana Roberts

Other

8th Grade

Used 2+ times

Market Structures
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is market structure?

How different industries are classified and differentiated based on their degree and nature of competition for goods and services

Place where parties can gather to facilitate exchange

The arrangement of and relations between the parts or elements of something complex.

How different markets are build from start to finish.

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

List two types of market structures

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Characteristics of perfect Competition all expect

No transaction cost

Many buyers and sellers

Price bias

Company makes similar products

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a perfect competition all the sellers of the market are small sellers in competition with each other.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a monopoly market structure?

theoretical condition

small firms

single seller, selling a unique product.

large buyers and sellers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Examples of Monopoly market?

i) JPS

ii) Google

iii) Facebook

iv) National Water Commission

v ) KFC

i, ii, iii & iv

ii, iii & v

i & v

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is no transaction cost a characteristic of monopoly market?

True

False

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