Features of Oligopoly
Economics ⇒ Markets and Price Determination
Features of Oligopoly starts at 11 and continues till grade 12.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Features of Oligopoly.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 11
Describe the impact of barriers to entry on the number of firms in an oligopoly.
Describe the role of advertising in an oligopolistic market.
Explain the concept of interdependence among firms in an oligopoly.
Explain the term 'mutual interdependence' in oligopoly with an example.
Explain the term 'price rigidity' in the context of oligopoly.
Explain why price wars are common in oligopolistic markets.
Explain why product differentiation is important in an oligopoly.
Name any two features of oligopoly.
Which of the following best describes the products in an oligopoly? (1) Always identical, (2) Always differentiated, (3) Either identical or differentiated, (4) Always unique
Which of the following is a common example of an oligopolistic industry in India? (1) Railways, (2) Telecom, (3) Wheat farming, (4) Tailoring services
Which of the following is a feature of a duopoly? (1) One seller, (2) Two sellers, (3) Many sellers, (4) No sellers
Which of the following is a feature of oligopoly? (1) Price taker, (2) Price maker, (3) No control over price, (4) Infinite sellers
Fill in the blank: In oligopoly, firms may engage in _______ competition, such as advertising and product differentiation.
Fill in the blank: In oligopoly, firms may follow a _______ leader in setting prices.
Fill in the blank: Oligopoly can exist with both _______ and differentiated products.
Fill in the blank: Oligopoly firms may use _______ to prevent new firms from entering the market.
Is it possible for an oligopoly to have only two firms?
Is the following statement true or false? 'Oligopoly firms always compete only on price.'
State whether the following statement is true or false: 'Oligopoly markets are always efficient.'
True or False: Collusion is a possible feature of oligopoly.
