Competitive Market: Definition, Characteristics & Examples


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question 1 of 3

How many producers compete in a competitive market?

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1. How many consumers depict what goods producers make in a competitive market?

2. What is often the incentive to motivate producers to enter a competitive market?

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About This Quiz & Worksheet

This quiz and worksheet will see what you know about competitive markets and their key characteristics. You will also have the chance to review consumers and producers in these markets.

Quiz & Worksheet Goals

You can use this worksheet and quiz to check your knowledge of:

  • An incentive that is used to motivate producers to enter a competitive market
  • Consumers in a competitive market
  • Producers in a competitive market
  • Major characteristics of these markets

Skills Practiced

  • Information recall - access the knowledge you have gained about the characteristics of competitive markets
  • Knowledge application - use your knowledge to answer questions about the number of producers and consumers in a competitive market
  • Reading comprehension - ensure that you draw the most important details from the related lesson on competitive markets

Additional Learning

The lesson called Competitive Market: Definition, Characteristics & Examples can help you learn more about competitive markets. This lesson's material will help you meet the following objectives:

  • Understand when a competitive market occurs
  • Identify and give examples of a competitive market's characteristics
  • Differentiate consumers and producers in competitive markets