Types of Competition in Entrepreneurship

Quiz
•
Social Studies
•
12th Grade
•
Hard
John Robinson
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the effort of 2 or more people, acting independently, to get the business of others by offering the best deal?
Consumer sovereignty
Competition
Profit
Specialization
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A person who comes up with a product or service, and finds the money and time to produce this new product.
Entrepreneur
Incentive
Specialization
Barter
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
I found these white socks at 10 different stands at the flea market. Why type of market system is being represented?
Monopoly
Oligopoly
Monopolistic Competition
Perfect competition
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What type of competition involves businesses competing by offering the best prices to attract customers?
Price Competition
Non-price Competition
Monopolistic Competition
Oligopolistic Competition
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of competition focuses on differentiating products through features, quality, or branding rather than price?
Price Competition
Non-price Competition
Perfect Competition
Monopoly
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which type of market structure do a few large firms dominate the market, often leading to competitive strategies like price wars?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the term for a market structure where many firms sell products that are similar but not identical?
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
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