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Market Structures

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Questions and Answers

Which market is dominated by a few large buyers?

Perfect competition
Monopoly
Oligopoly
Oligopsony (correct)

Which market is dominated by a few sellers?

Monopoly
Perfect competition
Oligopsony
Oligopoly (correct)

What effect can be seen in an oligopoly?

Prices remaining stable
Prices kept high (correct)
Prices fluctuating
Prices kept down

Which of the following best describes an oligopsony?

A market dominated by a few large buyers (C) Signup and view all the answers

What is the main power that buyers have in an oligopsony?

The ability to keep prices low (B) Signup and view all the answers

How does an oligopoly differ from an oligopsony?

An oligopoly is dominated by a few large sellers (D) Signup and view all the answers