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Market Structures: A Comparative Analysis

Authored by Ata Bhatti

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12th Grade

Used 1+ times

Market Structures: A Comparative Analysis
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of perfect competition?

Few sellers

Homogeneous products

High barriers to entry

Price makers

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a monopoly, how is pricing power typically characterised?

No control over prices

Significant control over prices

Prices determined by market forces

Prices set by government regulation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of monopolistic competition?

Wheat farming

Local restaurants

Electricity supply

Airline industry

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do firms in an oligopoly typically behave in terms of pricing?

They act independently without regard to competitors

They engage in price wars frequently

They often collude to set prices

They have no influence over market prices

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a monopoly, how is consumer choice typically affected?

Consumers have a wide variety of choices

Consumers have limited choices

Consumers can easily switch to substitutes

Consumers face competitive prices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common form of price discrimination in oligopolies?

Charging the same price to all consumers

Offering discounts based on purchase volume

Setting a single price for all markets

Ignoring consumer segments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the products in a perfectly competitive market?

Differentiated

Unique

Homogeneous

Customised

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