Review of Market Structures

Review of Market Structures

9th - 12th Grade

15 Qs

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Review of Market Structures

Review of Market Structures

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Christopher Ward

Used 2+ times

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15 questions

Show all answers

1.

REORDER QUESTION

1 min • 1 pt

Reorder the following markets to show sellers' market power from GREATEST to LEAST.

Monopolistic Competition

Monopoly

Oligopoly

Pure Competition

2.

REORDER QUESTION

1 min • 1 pt

Reorder the following markets to show barriers to entry from LEAST to GREATEST.

Oligopoly

Pure Competiton

Monopoly

Monopolistic Competition

3.

LABELLING QUESTION

1 min • 1 pt

Label the continuum of market structures.

a
b
c
d
Monopoly
Monopolistic Competition
Pure Competition
Oligopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"obstacles or hindrances that make it difficult for new companies to enter a given market...may include technology challenges, government regulations, patents, start-up costs, or education and licensing requirements."

Which characteristic of a market is the quote describing?

price control

barriers to entry

amount of competition

number of sellers

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select TWO benefits of competition in a market.

higher prices

inferior products & services

innovative products & services

lower prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The US government has no laws against unfair competition in the market.

True

False

Answer explanation

Media Image

The Antitrust Division has more civil antitrust lawsuits in litigation than at any time in recent memory, and several mergers have been abandoned after they attracted the Division's scrutiny.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of market structure is being described in the following quote?

"To make matters worse, health care consolidation has led to the absence of any choice at all for consumers. Another study by Harvard University on hospital markets found that between 2007-2017, 11.2 million Americans were served by just a single hospital system."

Sole Proprietorship

Monopolistic Competition

Monopoly

Oligopoly

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