Pure Monopoly Trivia Quiz
A pure monopoly is a relatively rare market structure where one company is the single source for a product and there are no close alternatives for that product available elsewhere. What do you know about how pure monopolies work?
- 1.What is Pure Monopoly?
- A.
A board game.
- B.
An movie about economy.
- C.
When a company holds such a dominance in a market that no effective competition can take place.
- D.
All of the above.
- 2.What are the characteristics of a Pure Monopoly?
- A.
Only one firm in the market (no competition).
- B.
Significant barriers to entry by other firms exist.
- C.
Lack of substitute goos for the monopolist's good.
- D.
Firm is a price-maker.
- E.
All of the above.
- 3.A Pure Monopoly occurs when?
- A.
Someone looses a game.
- B.
When two people fight over an item in a store.
- C.
Another market competes to sell the same items as you, but can't compete.
- D.
All of the above.
- 4.Pure Monopoly causes the economy to fail.
- A.
True
- B.
False
- 5.There are laws to regulate Pure Monopoly.
- A.
True
- B.
False
Questions: 10 | Attempts: 143160 | Last updated: Mar 22, 2022
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