Monopoly and Market Regulation Quiz
Test your knowledge on monopolies, market regulation, and anticompetitive behaviors with our Industrial Organization quiz.
#1
In economics, what is a monopoly?
A market structure with many sellers and buyers
A market structure with a single seller and many buyers
A market structure with a single buyer and many sellers
A market structure with few sellers and many buyers
#2
Which of the following is NOT a characteristic of a monopoly?
Barriers to entry
Single seller
Homogeneous products
Price maker
#3
Which of the following is NOT a type of monopoly?
Natural monopoly
Technological monopoly
Government monopoly
Competitive monopoly
#4
What is a natural monopoly?
A monopoly that arises from government intervention
A monopoly that exists due to economies of scale
A monopoly that occurs naturally without any external factors
A monopoly that controls the entire market
#5
Which government agency in the United States is responsible for regulating monopolies and preventing anticompetitive behavior?
Federal Trade Commission (FTC)
Department of Justice (DOJ)
Securities and Exchange Commission (SEC)
Consumer Financial Protection Bureau (CFPB)
#6
What is the term for a market structure with only a few sellers offering similar or identical products?
Oligopoly
Monopolistic competition
Perfect competition
Duopoly
#7
What is a price discrimination strategy often employed by monopolies?
Perfect price discrimination
Price equalization
Price fixing
Price leadership
#8
What is the term for a monopoly that has complete control over the production of a good or service?
Pure monopoly
Partial monopoly
Absolute monopoly
Total monopoly
Sign In to view more questions.
Quiz Questions with Answers
Forget wasting time on incorrect answers. We deliver the straight-up correct options, along with clear explanations that solidify your understanding.
Popular Quizzes in Industrial Organization
Popular Quizzes in Economics
Report