Market Structures
6 Questions
| Total Attempts: 2701
Read carefully and answer all questions:
Questions and Answers
- 1.In a Market structure called 'Monopoly' there will:
- A.
One firm
- B.
Two firms
- C.
Few Firms
- D.
Many firms
- 2.Monopoly and Monopolistic Competition mean the same:
- A.
True
- B.
False
- 3.Tick the boxes that belong to Imperfect competition:
- A.
Monoply
- B.
Monopolistic
- C.
Perfect
- D.
Monopsony
- 4.The main difference between Oligopoly and duopoly is
- A.
Strong Bariers
- B.
Similar Products
- C.
No: of firms
- D.
Imperfect knowledge
- 5.The most obvious way firms can compete with each other is by lowering their __________. The most common Non-Price competition is Product _________________.
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