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?

Unit 3 - Market Structures Review

Quiz
•
Social Studies
•
12th Grade
•
Medium

MARA GREENBERG
Used 4+ times
FREE Resource
29 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increased demand for a product will cause prices to rise
More intense competition will reduce the quality of goods
Improvements in technology will enhance reliability
Expanded customer choice will drive down prices
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Productivity of labor is not a factor that affects wage levels
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One way companies distinguish themselves from competitors is by
Improving safety standards for workers
Promoting different products
Increasing production possibilities
Supporting antitrust legislation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why would the United States seek to limit the development of business monopolies?
To guarantee low prices
To encourage competition
To increase production levels
To improve hiring practices
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, the strongest incentive for entrepreneurship is the opportunity to
Earn a profit on investment
Support projects for the public good
Gain personal prestige and fame
Determine regulatory and tax policies
6.
OPEN ENDED QUESTION
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.
Evaluate responses using AI:
OFF
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What best defines the financial gain received by selling something for more than it costs to make/produce it?
Market
Money
Corporation
Profit
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