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Market Structure Quiz Flashcards | StudBud
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Market Structure Quiz
Market Structure Quiz
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StudBud Administration
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Review quiz on supply, demand, and the four market structures.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
The market for jeans would fall into which market structure?
Monopolistic Competition
Perfect Competition
Monopoly
Oligopoly
2
The point where supply equals demand is known as..
The Middle
Competition
Price Saving
Equilibrium
3
This market structure features only ONE firm.
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
4
The Law of Demand states that as prices fall, quantity demanded will..
stay the same
increase
decrease
5
Oligopoly, Monopoly, Monopolistic Competition, and Perfect Competition are examples of..
Supply and Demand Determinents
Games
Market Structure
Businesses
6
A good that is considered the same no matter who produces or sells it.
Commodity
Product
Item
the thing
7
Any factor that makes it difficult to enter a market.
Barrier to Entry
Preventables
Road Block
Start Up Costs
8
This market structure is characterized by many firms that all produce the exact same good.
Monopoly
Oligopoly
Monopolistic Competition
Perfect Competition
9
The Law of Supply states that as prices fall, producers will want to supply..
more goods
the same amount of goods
less goods
10
This market structure features a few large firms that sometimes work together to fix prices.
Oligopoly
Monopolistic Competition
Perfect Competition
Monopoly
