Market structure in which only a few large sellers dominate and have the ability to affect prices in an industry.

Econ: Ch. 7 and 8

Quiz
•
Social Studies
•
12th Grade
•
Medium
John Heavin
Used 2+ times
FREE Resource
27 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Oligopoly
Monopoly
Trust
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Market structure characterized by a single producer in a market.
Oligopoly
Monopoly
Trust
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic products that are paid for and consumed collectively, such as highways, national defense, police and fire protection.
Private Goods
Market Goods
Public Goods
Investments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economic side effects upon an uninvolved third party.
Private Goods
Public Goods
Utilities Failure
Externalities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A woman borrows money from a bank to purchase a house. She promises to give the bank the house if she cannot repay the loan. The loan for the house is a type of _________________ .
foreclosure
mortgage
trust
cease and desist order
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
We say the United States has a modified free enterprise economy because almost everything we produce or purchase is in some way affected by _________________.
business
money
government
inventors
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A philosophy that government should not interfere with business activity.
Laissez-faire
Communism
Socialism
Economies of Scale
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