Pure Monopoly Trivia Quiz

5 Questions | Total Attempts: 301

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Monopoly Quizzes & Trivia

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?


Questions and Answers
  • 1. 
    There are laws to regulate Pure Monopoly.
    • A. 

      True

    • B. 

      False

  • 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. 
    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.

  • 4. 
    Pure Monopoly causes the economy to fail.
    • A. 

      True

    • B. 

      False

  • 5. 
    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.