Quiz about market structure

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Quiz about market structure

  1. 1. QUIZ ABOUT MARKET STRUCUTURE
  2. 2.  The purification was done mostly at _____________. ANS: HOME
  3. 3. A type of market structure that has less market power, price takers, free entry and exit and perfect Information.ANS: PERFECTLY COMPETITIVE MARKET
  4. 4. A type of market structure that have many firm, free entry and exit, and differentiated but highly substitutable product ANS: MONOPOLISTIC COMPETITION
  5. 5. A type of market structure that has a market power, a single seller, a one product (limited or no good substitutes) and barriers to entry. ANS: MONOPOLY
  6. 6. A type of market structure thathas small number of firms, aproduct differentiation may ormay not exist and barriers to entry ANS: OLIGOPOLY
  7. 7. .In Oligopoly, there are two barriers to entry, there are: ANS: NATURAL & STRATEGIC ACTION
  8. 8. The Telecommunication industry (landline) started out as a ANS: MONOPOLY
  9. 9.  The__________ is the supply-side of the market and has complete control over the amount offered for sale ANS: MONOPOLIST
  10. 10.  One supplier can produce at a lower per-unit cost than several smaller firms. ANS: ECONOMIES OF SALE

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