Market Structures Quizizz

What is the characteristic of pure (perfect) competition?

• Some control over price

• Few competitors

• Large number of sellers

• Product differentiation

Which industry is an example of monopolistic competition?

• Airline industry

• Electricity producers

• Automotive industry

• Market gardeners

What are the characteristics of an oligopoly?

• A few competitors

• No competition

• Large number of sellers

• Some control over price

What type of monopoly is characterized by a company having specific manufacturing processes or key technologies?

• Natural Monopoly

• Technological Monopoly

• Government Created Monopoly

• Monopolistic Competition

In which type of monopoly is competition prohibited by law?

• Technological Monopoly

• Natural Monopoly

• Government Created Monopoly

• Monopolistic Competition

Which is an example of monopolistic competition?

• Car manufacturers

• Restaurants, clothing stores, and hair salons
• Airline industries

• The soft drink industries

Organize these options into the right categories

Groups:

(a) Pure Competition

,

(b) Monopolistic Competition

,

(c) Oligopoly

,

(d) Monopoly

• No competition

• free to enter and exit the market

• 
• 
• High barriers to entering the market

• identical products

• low barriers to entering the market

• some ability to diferenciate their products

• Complete control of prices

• 
• One Seller

• A few competitors

• 
• No product differentiation