
Perfect Competition
Authored by Marielle Reyes
Education
9th - 12th Grade
Used 1+ times

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6 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is Perfect Competition?
market structure that consists of one seller or producer of a product
market structure where all firms sell identical products where there is no control of the prices
market structure where in a market is dominated by a small number of large sellers
market structure where many producers are competing against each other but different products
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one below is not a factor that makes a Perfect Competition?
Companies have no Influence on prices
Large number of buyers and seller
Sellers must accept the prevailing price of the market
Sellers earn greater market share
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Prices of a Perfect Competition are controlled by....
Supply and Demand
Incentives
Sellers or Producers
Buyers or Consumers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of a Perfect Competition
Mall
Tiangge
Food Court
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The ones below are benefits of a Perfect Competition except
Only requires cheap transactions since companies can get their products through one supplier
Exit and Entry becomes easy for sellers because of their similar products
Encourages creativity for sellers to standout to be able to earn profit
Consumers can easily switch between similar products making sellers lose profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Farmer's Market is classified as a Perfect Competition because
There are many buyers in the market place
They sell the same produce at the same price
There are many sellers found in the place
There are many different kinds of produce
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