Features of Oligopoly
Economics ⇒ Markets and Price Determination
Features of Oligopoly starts at 11 and continues till grade 12.
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Describe the impact of interdependence on decision-making in oligopoly.
Describe the role of advertising in an oligopolistic market.
Explain the concept of interdependence among firms in an oligopoly.
Explain the concept of price rigidity in oligopoly.
Explain the difference between homogeneous and differentiated oligopoly.
Explain the term 'kinked demand curve' in the context of oligopoly.
Explain why barriers to entry are important in oligopoly.
Explain why product differentiation is important in an oligopolistic market.
Which of the following best describes the demand curve faced by an oligopolist? (1) Perfectly elastic (2) Kinked (3) Perfectly inelastic (4) Downward sloping straight line
Which of the following is a barrier to entry in oligopoly? (1) Low capital requirement (2) Economies of scale (3) Perfect information (4) Many sellers
Which of the following is a common form of non-price competition in oligopoly? (1) Advertising (2) Price wars (3) Government regulation (4) Free entry
Which of the following is a feature of oligopoly? (1) Many buyers and sellers (2) Homogeneous products only (3) Mutual interdependence (4) No barriers to entry
Fill in the blank: In oligopoly, firms are _______ on each other for their pricing and output decisions.
Fill in the blank: In oligopoly, the market is dominated by a _______ number of firms.
Fill in the blank: Oligopoly firms are _______ makers, not price takers.
Fill in the blank: Oligopoly is a market structure with _______ competition.
Is it possible for firms in an oligopoly to compete on the basis of product quality?
Is it true that in oligopoly, firms may use both price and non-price competition?
Is the following statement true or false? 'Oligopoly can lead to higher prices for consumers compared to perfect competition.'
Is the following statement true or false? 'Oligopoly markets often have significant barriers to entry.'
