What market situation exists where there are few sellers and few buyers ?

Related Mcqs:

1. What is the market situation exist when there are many buyers and many sellers ?

   A. Perfect competition B. Oligopoly C. Oligopsony D. Monopoly...

2. If there are many sellers and few buyers, the market situation is ______________________?

   A. Duopsony B. Oligopoly C. Oligopsony D. Monopoly...

3. What market situation exists where there is only one buyer and only one seller ?

   A. Monopsony B. Monopoly C. Bilateral monopsony D. Bilateral monopoly...

4. If there is only one seller and many buyers, the market situation is ______________________?

   A. Duopsony B. Oligopoly C. Oligopsony D. Monopoly...

5. Aside from many sellers and many buyers, which one is a characteristic of perfect competition ?

   A. Homogeneous product B. Free market entry and exit C. Perfect information and absence of all economic friction D. All of the above...

6. What refers to the exchange mechanism that brings together the sellers and the buyers of a product, factor of production or financial security ?

   A. Mall B. Market C. Store D. Office...

7. What refers to the market situation in which any given product is supplied by a very large number of vendors and there is no restriction against additional vendors from entering the market ?

   A. Perfect competition B. Oligopoly C. Oligopsony D. Monopoly...

8. Duopoly is a market situation where there is/are____________?

   A. Few sellers and few buyers B. Few sellers and many buyers C. Many sellers and few buyers D. One seller and few buyers...

9. Duopsony is a market situation where there is/are______________?

   A. Few sellers and few buyers B. Few sellers and many buyers C. Many sellers and few buyers D. One seller and few buyers...

10. What is a market situation whereby there is only one buyer of an item for which there is no goods substitute ?

    A. Monopsony B. Monopoly C. Oligopoly D. Oligopsony...