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EPF M2L4a CC

Authored by Anasia Napper

Business, Social Studies

9th - 12th Grade

EPF M2L4a CC
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

All market structures are based on the same number of sellers in a market. 

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

One characteristic of market structures is the easy of entry of new sellers.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Market structures are categories that identify the amount and type of competition in an industry.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In competitive markets there are ________ sellers and buyers.

many

few

one

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Firms that compete in competitive markets are _________.

price makers

price takers

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a competitive market ______ is an incentive for new sellers to enter the market.

few sellers

profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a competitive market, sellers choose ___________.

price and quantity

quantity only

price only

neither price nor quantity

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