Copyright

Monopolistic Competition: Definition, Theory, Characteristics & Examples

Instructions:

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

question 1 of 3

What is the primary factor of a monopolistic competition?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 75,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime.
Already registered? Log in here for access

1. Product differentiation in a market economy is

2. How many forms of competition are there within a market economy?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

This worksheet and quiz will test your understanding of monopolistic competition. Assess what you know about topics such as the primary factor of a monopolistic competition and how to define product differentiation.

Quiz & Worksheet Goals

This quiz and worksheet will help you to:

  • Identify the number of forms of competition
  • Recognize the form of competition that depends on a myriad of small firms with similar products
  • Name the type of competition that exists when a single business controls a marketplace

Skills Practiced

The following study skills will be practiced:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on monopolistic competition
  • Interpreting information - verify that you can read information regarding product differentiation and interpret it correctly
  • Information recall - access the knowledge you've gained regarding the primary factor of a monopolistic competition

Additional Learning

This lesson is named Monopolistic Competition: Definition, Theory, Characteristics & Examples. The lesson will cover the following:

  • Define market economy
  • Understand oligopoly
  • Recognize the theory and characteristics of monopolistic competition
  • Analyze examples of monopolistic competition
Support