Economics--Market Structures Assessment
Authored by MEGHAN GRIES
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24 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. ____________ exists where there is only one firm in the market.
a. Pure monopoly
b. Natural monopoly
c. Monopoly
d. Monopsony
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. Oligopoly is an imperfectly competitive market structure containing ___________ firms.
A few
Numerous
Option 3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. Market structure is the framework within which a firm sells its ___________.
Output
Products
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. ______________ is the money a firm receives from selling its output.
Cold cash money
Sales
Revenue
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a characteristic of a monopoly?
One seller
No substitutes
Control over price
Control of resources
High barriers to entry
6.
OPEN ENDED QUESTION
30 sec • Ungraded
Name one barrier to entering a market when there is a monopoly.
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7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a geographic monopoly?
Target in NYC
One grocery store in a small desert town
Apple store in Chicago
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