Market Structures Review

Market Structures Review

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

An economic model of competition among businesses in the same industry is called...

Back

Market Structure

2.

FLASHCARD QUESTION

Front

Each below is an example of an Oligopoly except... Few Sellers, Many Buyers, More control of Prices

Back

Lots of freedom to enter or exit the market

3.

FLASHCARD QUESTION

Front

Which statement below is NOT true about monopolies: All monopolies are harmful, Businesses in monopolies are 'Price Makers', Only one seller sells a product with no close substitutes, The least competitive market structure is a monopoly?

Back

All monopolies are harmful

4.

FLASHCARD QUESTION

Front

The ideal model of a market economy is known as...

Back

Perfect Competition

5.

FLASHCARD QUESTION

Front

A business that cannot set the prices for its products but accepts the market price that is set by Supply and Demand

Back

Price Taker

6.

FLASHCARD QUESTION

Front

The means of gaining business by using factors other than price

Back

Nonprice Competition

7.

FLASHCARD QUESTION

Front

A producer's demand for labor is called...

Back

Derived Demand

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