BUS 1-8 Competition Vocab

BUS 1-8 Competition Vocab

9th Grade

13 Qs

quiz-placeholder

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BUS 1-8 Competition Vocab

BUS 1-8 Competition Vocab

Assessment

Quiz

Business

9th Grade

Medium

Created by

Rebekah Williams

Used 4+ times

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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system where companies are privately-owned, versus being owned by the government

Capitalism

Socialism

Market

Traditional

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The rivalry between companies selling similar products and services.

Product Differentiation

Competition

Marketing

Exit Barriers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When companies offer essentially the same product or service

Direct Competition

Indirect Competition

Pure Competition

Price Competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When products or services are not the same, but they could satisfy the same need

Direct Competition

Indirect Competition

Replacement Competition

Global Competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competing to attract customers based on features and attributes other than pricing.

Direct Competition

Indirect Competition

Price Competition

Non Price Competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market where one company controls the supply of a good or service, where other options for consumers aren't readily available, and where the barriers to entry for other companies are highly restrictive.

Monopoly

Oligopoly

Regulated Monopoly

Pure Monopoly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market where a small number of companies control the supply of a good or service, and where the barriers to entry for other companies are highly restrictive.

Monopoly

Oligopoly

Regulated Monopoly

Pure Monopoly

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