Monopolistic Competition and Oligopoly
Authored by COLTON GROVE
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12th Grade
Used 7+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What market structure do video game consoles fall under?
Pure Competition
Monopoly
Oligopoly
Monopolistic Competition
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Monopolistic competition involves many companies competing in an open market to sell products that are ______.
Identical
Unique
Similar but not identical
Completely different
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following industries is NOT typically associated with monopolistic competition?
Clothing
Banks
Orange juice
Electricity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Non-price competition can involve advertising, image, or ________.
Discounts
Status
Price cuts
Free trials
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blank: Providing excellent _______ is a form of non-price competition.
A) Quality of service including after-sales
B) Discount
C) Price Matching
D) Cost Cutting
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following strategies is used in non-price competition?
Innovation
Lowering Prices
Price Matching
Cost Cutting
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blank: An oligopoly is a market dominated by a few large, _______ firms.
A) unprofitable
B) profitable
C) small
D) medium
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