Market Structures

6 Questions | Total Attempts: 2701

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Market Quizzes & Trivia

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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