Competition & Free Enterprise - Final Assessment

Competition & Free Enterprise - Final Assessment

9th Grade

10 Qs

quiz-placeholder

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Competition & Free Enterprise - Final Assessment

Competition & Free Enterprise - Final Assessment

Assessment

Quiz

others

9th Grade

Medium

Created by

GUS GESLING

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Competition does NOT encourage companies to do which of the following?

Improve products

Target different markets

Reduce prices

Decrease advertising

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which economic system prohibits the private ownership and management of resources and emphasizes income and wealth equality?

Free enterprise

Capitalism

Communism

Socialism

3.

DRAG AND DROP QUESTION

30 sec • 1 pt

Pure competition creates markets with large numbers of buyers and sellers exchanging a(n) (a)   product.

Technological

Online

Unique

Homogenous

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An oligopoly is most distinguished by the firms interdependence on pricing and marketing.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monopolistic competition refers to a market structure where many firms compete against each other when selling similar, but slightly differentiated products.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of market structure has only one firm producing a product?

Monopoly

Oligopoly

Monopolistic competition

Pure competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following allow fair access to markets for entrepreneurs and are sometimes known as competition laws?

Free enterprise laws

Trade laws

Anti-trust laws

Capitalistic laws

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