UNIT 2 Vocab Quiz
Authored by Claudia Stewart
Other
12th Grade
Used 15+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a market structure dominated by only a few firms?
Sole proprietorship
Oligopoly
Monopoly
Corporation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a company viewed in the eyes of the law as an individual?
Sole proprietorship
Oligopoly
Corporation
Partnership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for numerous buyers and sellers and no control over price?
Pure competition
Monopoly
Oligopoly
Monopolistic competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the maximum amount of a product that can be charged for a specific product - causes a shortage?
Law of demand
Law of supply
Price ceiling
Price floor
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for when demand is greater than supply?
Surplus
Shortage
Price floor
Price ceiling
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the minimum legal amount that can be charged for a specific product - causes a surplus?
Price ceiling
Price floor
Surplus
Shortage
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for a firm in this illegal market structure would have almost total control over price?
Monopoly
Oligopoly
Perfect competition
Monopolistic competition
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
