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Unit 6 Test Review

Quiz by Maggie Maine

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An industry with significant barriers to entry and a single supplier
29
Oligopoly
Monopoly
Perfect competition
Monopolistic

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8 questions

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Q1
An industry with significant barriers to entry and a single supplier
Oligopoly
Monopoly
Perfect competition
Monopolistic
30s
Q2
A highly concentrated market with just a few interdependent firms
Perfect competition
Monopolistic
Oligopoly
Monopoly
30s
Q3
A highly competitive market with slightly differentiated products.
Perfect competition
Monopolistic
Monopoly
Oligopoly
30s
Q4
A highly competitive market where firms are price takers
Oligopoly
Perfect compeition
Monopolistic
Monopoly
30s
Q5
Which of the following is the most competitive market structure?
Monopolistic competition
Monopoly
Oligopoly
Perfect competition
30s
Q6
Which of the following is the least competitive market structure?
Perfect competition
Oligopoly
Monopoly
Monopolistic competition
30s
Q7
Which of the following is NOT a characteristic of monopolistic competition?
Numerous sellers
Product differentiation
Homogenous products
Numerous buyers
30s
Q8
In which form of market structure would price be the key factor when competing?
Oligopoly
Monopoly
Perfect competition
Monopolistic competition
30s

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