Unit 3 - Market Structures Review

Unit 3 - Market Structures Review

Assessment

Assessment

Created by

MARA GREENBERG

Social Studies

12th Grade

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29 questions

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1.

MULTIPLE CHOICE

30 sec • 1 pt

A Chinese automobile manufacturer announces new models. The new vehicles are expected to go on sale next Fall in Europe and North America. Which factor explains how this development is likely to affect U.S. automobile markets?

2.

MULTIPLE CHOICE

30 sec • 1 pt

Productivity of labor is not a factor that affects wage levels

3.

MULTIPLE CHOICE

30 sec • 1 pt

One way companies distinguish themselves from competitors is by

4.

MULTIPLE CHOICE

30 sec • 1 pt

Why would the United States seek to limit the development of business monopolies?

5.

MULTIPLE CHOICE

30 sec • 1 pt

In a market economy, the strongest incentive for entrepreneurship is the opportunity to

6.

OPEN ENDED

3 mins • 1 pt

Provide two examples of products that are essentially the same no matter who sells them and are sold under the conditions of perfect competition.

7.

MULTIPLE CHOICE

30 sec • 1 pt

What best defines the financial gain received by selling something for more than it costs to make/produce it?

8.

MULTIPLE CHOICE

30 sec • 1 pt

Media Image

Which of the following is the MOST ACCURATE summary of this line graph?

9.

MULTIPLE CHOICE

30 sec • 1 pt

Which characteristic describes a disadvantage of a sole proprietorship?

10.

MULTIPLE CHOICE

30 sec • 1 pt

Why does the government enforce antitrust laws?

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