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- 1. Multiple Choice
Which of the following is NOT a Market Structure?
Perfect Competition
Oligopoly
Monopoly
Corporation
- 2. Multiple ChoiceWhich market structure involves selling identical products?Perfect CompetitionMonopolistic CompetitionOligopolyMonopoly
- 3. Multiple Choice
Which market structure did John D. Rockefeller's Oil industry fall under?
Monopoly
Oligopoly
Perfect Competition
Monopolistic Competition
- 4. Multiple ChoiceWhich law bans monopolies?Tea ActAnti-Trust ActTownsend ActMonopoly Act
- 5. Multiple Choice
Google controls 67% of the web search market. The company has grown and branched off into email, online maps, GPS tracking systems, online data storage and mobile phones. There are competitors like Microsoft and Yahoo, but they own just 18% and 11% of the market, respectively. Which market structure(s) best fit Google? (There are two possible answers, pick both)
Perfect competition
Monopolistic competition
Oligopoly
Monopoly
- 6. Multiple Choice
Markets like automobiles, cell phones, cable TV, and internet providers are examples of which market structure?
Monopoly
Oligopoly
Perfect competition
Monopolistic competition
- 7. Multiple ChoiceNancy has 1.00 and spends 67ct. How much money does she have left over?.43.45.33.23
- 8. Multiple Choice
Peach 36 cents
Carrots 47 cents
How much all together?
83 cents
73 cents
84 cents
74 cents
- 9. Multiple ChoiceAnyone who uses goods and services.producerconsumershopperbuyer
- 10. Multiple ChoiceConsumers’ desire for goods or services.supplyscarcitydemandinterest
- 11. Multiple Choice
Long ago people used to trade goods to get what they wanted from each other. This is called ___________
services
barter
money
producer
- 12. Multiple Choice
__________ has been used as money for over a thousand years.
rings
shells
Metal coins
food
- 13. Multiple Choice
Money that is fake is called __________
dollar
counterfeit
gold
barter
- 14. Multiple ChoiceAnything that everyone accepts as paymentdemand depositmedium of exchange
- 15. Multiple ChoiceThe ability to buy something with a promise to pay laterbartercredit
- 16. Multiple ChoicePick the one thing money does not have to doMoney has to lastMoney should be light enough to carryMoney should be in different colorsMoney should come in many different values
- 17. Multiple ChoiceIt is easier to save when we have a system of barterTrueFalse
- 18. Multiple ChoiceIf the government decided to double the amount of money in use and gave everyone twice as much, everyone would be richer.TrueFalse
- 19. Multiple ChoiceIf there is something for which people want more, what frequently happens in an open market?Prices go upPrices go downPrices stay the same
- 20. Multiple Choice
Use the following statements to answer this question:
I. Markets that have only a few sellers cannot be highly competitive.
II. Markets with many sellers are always perfectly competitive.
I and II are true.
I is true and II is false.
II is true and I is false.
I and II are false.
- Answer choicesTagsAnswer choicesTags