Microeconomics Review

Microeconomics Review

9th - 12th Grade

15 Qs

quiz-placeholder

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Microeconomics Review

Microeconomics Review

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Josh Ciarletta

Used 15+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This Market Structure is characterized by having:

Large # of large sellers

Some price control

Non-Price Competition

Monopoly

Monopolistic Competition

Oligopoly

Perfect Competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This Market Structure is characterized by having:

Only a few large sellers

High product identity (differentiation)

Interdependence

Possible Cartels

Monopoly

Monopolistic Competition

Oligopoly

Perfect Competition

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This Market Structure is characterized by having:

Infinite small sellers

identical products

no price control

Monopoly

Monopolistic Competition

Oligopoly

Perfect Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This Market Structure is characterized by having:

1 seller

total price control

inefficiency

total barriers to entry

Monopoly

Monopolistic Competition

Oligopoly

Perfect Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of BUSINESS ORGANIZATION is characterized by having:

Ease of start up

total control

the ability to change focus quickly

Sole Proprietorship

Partnership

Corporation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of BUSINESS ORGANIZATION is characterized by having:

Protection of private assets

Ability to raise money

Ability to have owners specialize in a specific tasks

Sole Proprietorship

Partnership

Corporation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of BUSINESS ORGANIZATION is characterized by having:

Infinite Lifespan

Raise LOTS of money quickly

Owners are only liable for their investment

Sole Proprietorship

Partnership

Corporation

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