Which is not a basic principle of a market system
The Market System
Quiz
•
Dena Goldberg
•
Other
•
9th - 12th Grade
•
196 plays
•
Medium
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
competition
voluntary exchange
socialism
self-interest
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following does not follow with the basic principles of market systems?
People are driven by their desire to make a profit
competition is discouraged
people feel best when they freely trade for what they want
innovation is encouraged
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Private property rights
Should not be enforced by the government
Are protected under the constitution
Do not exist in capitalist markets
Are optional for success in the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of market structure has the fewest barriers to entry?
Perfect competition
Monopolistic comptition
Oligopoly
Monopoly
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of market structure has the fewest amount of competitors in the market?
Perfect comptetition
Monopolistic competition
Oligopoly
Monopoly
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Oligopolies have all of the following characteristics except
A small number of competitors
Make it difficult for others to enter the market
A relatively similar product
Complete control of the market
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following conditions are needed for perfect competition except?
Same product
Lack of barriers to enter market
Many sellers
Variable pricing mechanisms
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