Economics unit 3 quiz

__________________________ refers to the nature & degree of completion in the market for goods and services.

• Market demand

• Market price

• Market structure

Which determines market structure

• Sellers

• Buyers

• Product

• All the above

Market is classified into ____ types

• 4

• 8

• 7

• 6

There are ___ types of market structure

• 5

• 8

• 2

• 3

In Monopoly demand is determined by __________

• Buyers and sellers

• Suppliers and manufacturers

• Costumers and dealers

Price discrimination is highly possible in

• Monopoly

• Duopoly

• Monopolistic

• Monopsony

Kinked demand curve is otherwise called as

• Connel's Method

• Grinol's method

• Sweezy's method

Advantages of Perfect Market

• Consumer Sovereignity

• Beneficial to consumers

• Cost savings

• Economic efficiency

In which market price is influenced by other firms.

• Monopolistic

• Perfect

• Oligopoly

• Monopoly

Market demand and supply plays Major role in ___

• Price determination

• Revenue determination

• Product scale

• All the above