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- 1. Multiple Choice
There are very high barriers these two structures
monopoly
monopolistic competition
oligopoly
pure / perfect competition
- 2. Multiple Choice
There are many buyers AND sellers in this market structure.
monopoly
monopolistic competition
oligopoly
pure/perfect competition
- 3. Multiple Choice
Their is only one supplier in this market structure.
monopoly
monopolistic competition
oligopoly
pure / perfect competition
- 4. Multiple Choice
Which structure uses differentiation to make its products unique?
monopoly
monopolistic competition
oligopoly
pure / perfect competition
- 5. Multiple Choice
Differentiation is _________________.
having identical products.
copying another business.
small differences that make your product unique.
having control of the market value.
- 6. Multiple Choice
Fast food restaurants are an example of _______________.
differentiation.
monopolistic competition.
pure / perfect competition.
monopolies.
- 7. Multiple Choice
The farmers' market is an example of _______________.
a monopoly.
a purely/perfectly competitive market.
an oligopoly.
a monopolistic competition.
- 8. Multiple Choice
Airlines are examples of _________________.
purely / perfectly competitive markets.
monopolies.
oligopolies.
monopolistic competition.
- 9. Multiple Choice
The 4 conditions for a purely / perfectly competitive market are:
The products are identical.
Buyers know a lot about the product.
The sellers control the market price.
Sellers can enter and exit the market easily.
There are many buyers and sellers.
- 10. Multiple Choice
Monopolies can control the price of a product because ______.
They are evil.
They are illegal.
The have a unique product.
The government supports them.
- 11. Multiple Choice
Which is NOT an example of non-price competition?
location
bargaining
service level
advertising
status
- 12. Multiple Choice
Oligopolies and monopolies are the same because ________.
They both have many buyers and sellers.
They both are the only sellers of their product.
They both have identical products.
They both have high barriers to entry.
- 13. Multiple Choice
Pure / perfect competition and monopolistic competition are the same because _____________.
They have unique products.
The have identical products.
They have many buyers and sellers.
They have many buyers.
- 14. Multiple Choice
Google is an example of a
oligopoly
monopoly
pure / perfect competition
monopolistic completion
- 15. Multiple Choice
Car producers are an example of
monopoly
oligopoly
monopolistic competition
pure / perfect competition
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