Pure Competition: Definition, Characteristics & Examples - Quiz & Worksheet


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question 1 of 3

What is pure competition?

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1. What is another term for pure competition?

2. In pure competition, how does one competitor gain market share over the other competitors?

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About This Quiz & Worksheet

This quiz and worksheet combo can help you assess your understanding of pure competition. In order to pass the quiz, you need to be able to define pure competition and identify some of its characteristics.

Quiz & Worksheet Goals

This quiz and worksheet can help you review these topics:

  • Definition of pure competition
  • How prices are determined in a pure competition market
  • Ways competitors gain market share over competition in a pure competition market

Skills Practiced

This quiz and worksheet can help you test out the following skills:

  • Interpreting information - verify that you can read information regarding pure competition and interpret it correctly
  • Information recall - access the knowledge you have gained regarding instances in which pure competition exists
  • Critical thinking - apply relevant concepts to examine information about price determination in pure competition in a different light

Additional Learning

To learn more, review the corresponding lesson titled Pure Competition: Definition, Characteristics & Examples. This lesson covers the following objectives:

  • Define pure competition
  • Review instances in which a pure competition exists
  • Determine how price is configured in a pure competition market
  • Identify examples of pure competition