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Competition Within Free Markets: Types & Summary Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following best describes a free market?

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1. Why would a perfectly competitive market be beneficial for consumers?

2. Why does a monopoly-based system result in a negative business environment?

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About This Quiz & Worksheet

The level of competition within any free market system is subject to various factors. The quiz and worksheet for this lesson will help you to identify and understand the divergent market systems that exist.

Quiz & Worksheet Goals

These tools will test you on:

  • Free market economics
  • Market structure known for a large amount of businesses creating identical products
  • Market structure that has only one seller

Skills Practiced

This quiz and lesson allow you to look at your skills of:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on free market economics
  • Distinguishing differences - compare and contrast topics from the lesson, such as different market structures
  • Knowledge application - use your knowledge to answer questions about competition in markets

Additional Learning

Find out more regarding by reviewing the corresponding lesson Competition Within Free Markets: Types & Summary. This lesson will cover these specific objectives:

  • Identify different economic models
  • Distinguish the balance between freedom & governmental interference in markets
  • Understand a perfectly competitive market system
  • Discover how the government can affect markets
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