PU COM 2026 Market Structures Free Quiz 1

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PU COM 2026 Market Structures Free Quiz 1

PU COM Quiz

10:00

Answered: 0 / 10

Remaining: 10

Navigator 10 Q

General

General 10 MCQs

1. What characterizes perfect competition?

A. Many buyers and sellers, identical products B. One seller, unique product C. Few sellers, differentiated products D. Many sellers, differentiated products

2. What is a monopoly?

A. Many sellers B. Few sellers C. Single seller D. Two sellers

3. What characterizes monopolistic competition?

A. Many sellers with identical products B. Single seller C. Few sellers D. Many sellers with differentiated products

4. What is an oligopoly?

A. Many sellers B. Few large sellers C. Single seller D. Many sellers with differentiated products

5. Why are firms in perfect competition price takers?

A. Price takers B. Price makers C. Price setters D. Price influencers

6. What are barriers to entry in a monopoly?

A. Free entry and exit B. Low barriers to entry C. High barriers to entry D. No barriers to entry

7. What is price discrimination?

A. Charging the same price to everyone B. Charging different prices for different products C. Charging high prices D. Charging different prices for same product to different consumers

8. What type of products are sold in perfect competition?

A. Differentiated B. Identical C. Branded D. Unique

9. How do firms compete in monopolistic competition?

A. Product differentiation and advertising B. Price only C. Cost only D. Government regulation

10. What characterizes an oligopoly?

A. Independence among firms B. Competition among many firms C. Interdependence among firms D. No interaction among firms

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