Monopoly and Perfect Competition
Authored by MARISSA DECKER
Social Studies
12th Grade
Used 9+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In perfect competition, how many firms are there?
Many
None
One
Two
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of product is sold in perfect competition?
Undifferentiated
Niche
Differentiated
Luxury
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In perfect competition, are there barriers to entry or exit?
Low barriers
High barriers
No barriers
Yes, insurmountable barriers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In perfect competition, are firms price takers or price setters?
Price setters
Price influencers
Price negotiators
Price takers
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a monopoly, how many firms are there?
Two
None
Many
One
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of product is sold in a monopoly?
Undifferentiated
Differentiated
Luxury
Niche
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a monopoly, are there barriers to entry or exit?
High barriers
Low barriers
No barriers
Yes, insurmountable barriers
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