Micro Economics
Authored by Masira Shaikh
Business
12th Grade
Used 2+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a perfectly competitive market?
Automobile industry
Monopoly market
Oligopoly market
Agriculture market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The demand curve for a normal good slopes
Upward
Vertically
Downward
Horizontally
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The______ is a market structure characterized by a single seller with no close substitutes for its product.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of a perfectly competitive market?
A small number of buyers and sellers
Product differentiation
Barriers to entry
Price takers
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The _____ is the amount of money received from selling a good or service.
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