
Understanding Oligopoly and Non-Price Competition

Quiz
•
Social Studies
•
9th - 12th Grade
•
Hard
Carie Barry
FREE Resource
7 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an oligopoly?
A market with perfect competition and information.
A market dominated by a few large firms with a high market concentration ratio.
A market with unlimited competition and no barriers.
A market dominated by one firm only.
2.
DRAG AND DROP QUESTION
1 min • 1 pt
What percentage of market share do the leading five firms typically have in an oligopoly?
(a)
Less than 50 percent
Around 75 percent
Exactly 25 percent
3.
DROPDOWN QUESTION
1 min • 1 pt
Which sector is mentioned as an example where innovation is particularly important in an oligopoly?
(a)Automotive
Education
Healthcare
4.
DRAG AND DROP QUESTION
1 min • 1 pt
What is a key feature of firms' behavior in an oligopoly?
(a)Independent strategic decisions
Non-competitive behavior
Price wars as the primary strategy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of non-price competition?
Reducing the variety of products offered
Offering free upgrades to existing products
Lowering the price of products
Increasing the cost of entry for competitors
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do oligopolistic markets often see high spending on marketing and advertising?
To comply with government regulations
To decrease the market share
To reduce overall operational costs
To develop brand and consumer loyalty
7.
DROPDOWN QUESTION
1 min • 1 pt
What is emphasized as important in service industries within oligopolistic markets?
(a)
Simplified service offerings
Minimal customer interaction
Lowest price offerings
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