1. QUIZ ABOUT MARKET
STRUCUTURE

2.  The purification was done mostly at
_____________.
ANS: HOME

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. A type of market structure that have many
firm, free entry and exit, and differentiated
but highly substitutable product
ANS: MONOPOLISTIC COMPETITION

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. A type of market structure that
has small number of firms, a
product differentiation may or
may not exist and barriers to entry
ANS: OLIGOPOLY

7. .In Oligopoly, there are two barriers to
entry, there are:
ANS: NATURAL & STRATEGIC ACTION

8. The Telecommunication industry
(landline) started out as a
ANS: MONOPOLY

9.  The__________ is the supply-side of
the market and has complete control
over the amount offered for sale
ANS: MONOPOLIST

10.  One supplier can produce at a lower per-unit
cost than several smaller firms.
ANS: ECONOMIES OF SALE