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Imperfect Competition in Economics: Definition & Examples

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

question 1 of 3

Which of the following is not an example of an imperfect market structure?

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1. _____ is a market structure with many competitors who each own a small market share and sell a slightly different good or service.

2. _____ is a market structure with a few sellers who dominate a single market.

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About This Quiz & Worksheet

Try this multiple-choice quiz/worksheet combo to see how much you know about imperfect competition in economics. Topics you'll be covering include examples of imperfect market structures and a type of market structure with a lot of competitors who own a small market share and sell slightly different goods or services.

Quiz & Worksheet Goals

Make sure you've got a grasp on the following:

  • Market structure with a low number of sellers who control the market
  • Type of market associated with a cartel
  • Market with one seller and many buyers

Skills Practiced

  • Reading comprehension - make sure you know the most important information from the lesson on some examples of imperfect market structures
  • Information recall - access the knowledge you've gained regarding a market structure that has a small number of sellers who dominate the market
  • Knowledge application - use your knowledge to answer questions about the type of market with many competitors who own a small market share and sell slightly different products and a market that acts like a cartel

Additional Learning

Find out more about markets in the accompanying lesson entitled Imperfect Competition in Economics: Definition & Examples. You'll be covering these points along the way:

  • Definitions of a market and imperfect competition
  • Markets that are competitive
  • Barrier of entry and barrier to exit
  • Collusion between companies working together to increase profits
Final Exam
Chapter Exam
Holt McDougal Economics Chapter 7.1: What Is Perfect Competition?
Chapter too short for exam
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