What is a market structure?

Market Structures

Quiz
•
Financial Education
•
9th Grade
•
Easy
Mahar Lika
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A market structure is the organizational and other characteristics of a market that determine the behavior of firms within it and the outcomes that result from interactions among firms and consumers.
A market structure is a physical building where goods are bought and sold.
A market structure is a type of fruit found in tropical regions.
A market structure is a mathematical equation used to calculate supply and demand.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Name the four main types of market structures.
monopsony
perfect competition, monopolistic competition, oligopoly, monopoly
duopoly
cartel
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which market structure has a large number of firms selling similar but not identical products?
Oligopoly
Perfect competition
Monopolistic competition
Monopoly
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which market structure do firms have no control over the price of the product?
Monopoly market
Perfectly competitive market
Oligopoly market
Monopolistic competition
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a monopoly?
A monopoly is a situation in which a single company or group owns all or nearly all of the market for a particular type of product or service.
A monopoly is a term used to describe a situation where multiple companies compete in a market.
A monopoly is a type of government system where power is concentrated in the hands of one individual.
A monopoly is a board game where players buy and trade properties.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a characteristic of an oligopoly market structure?
Small number of large firms dominating the market
Unlimited number of firms in the market
Homogeneous products offered by all firms
Perfect competition among firms
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How do monopolistic competition and perfect competition differ?
Perfect competition involves product differentiation and some market power.
Monopolistic competition involves identical products and no market power.
Monopolistic competition involves no product differentiation and no market power.
Monopolistic competition involves product differentiation and some market power, while perfect competition involves identical products and no market power.
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