Pricing Strategy Quizzes, Questions & Answers

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Explore key pricing strategies and their application in business scenarios with ACCA F5 - Chapter 4: Pricing. This quiz focuses on evaluating your understanding of different pricing models and their strategic importance in...

Questions: 15 | Attempts: 10 | Last updated: Aug 4, 2025

Sample Question
What are 2 different types of market structures?

Perfect competition, Monopsony, Oligopsony

2 Different types of market structures 1) Imperfect competition refers to the market structure that does not meet the conditions of perfect competition. 2) - Monopoly, in which there is only one seller of a good. The seller dominates many buyers and can use its market power to set a profit-maximising price. Microsoft is usually considered a monopoly. - Oligopoly, in which a few companies dominate the market and are inter-dependent : firms must take into account likely reactions of their rivals to any change in price, output or forms of non-price competition. For example, in the UK, four companies (Tesco, Asda, Sainsbury's and Morrisons) share 74.4% of the grocery market. - Monopolistic competition, in which products are similar, but not identical. There are many producers ('price setters') and many consumers in a given market, but no business has total control over the market price.