Question

Question 1 of 10

Pizza Hut and Dominos are examples of:


Select an answer from the options below.

A

monopolies

B

primary data

C

direct competition

D

indirect competition

Question 2 of 10

If someone were to purchase a ticket for a bus ride from Nashville, TN to Tampa, FL, the bus company would be considered _________________ for airlines.


Select an answer from the options below.

A

indirect competition

B

direct competition

C

bargaining power of suppliers

D

bargaining power of buyers

Question 3 of 10

One benefit of a competitive analysis is to better understand:


Select an answer from the options below.

A

your strengths and weaknesses

B

your suppliers’ intellectual property (I.P.)

C

your competitors’ strengths and weaknesses

D

government regulations

Question 4 of 10

When conducting a competitive analysis, what would “industry publications” and “press releases” be considered as:


Select an answer from the options below.

A

direct competition

B

indirect competition

C

primary data

D

secondary data

Question 5 of 10

When conducting a competitive analysis, what would price surveys that your company conducts be considered as:


Select an answer from the options below.

A

primary competition

B

primary data

C

indirect competition

D

secondary data

Question 6 of 10

When one company controls the supply of a good or service, where other options for consumers aren't readily available, and where the barriers to entry for other companies are highly restrictive, this is called a/an:


Select an answer from the options below.

A

monopoly

B

oligopoly

C

monopolistic competition

D

non-price competition

Question 7 of 10

Consumers have the most buying power with this type of market model.


Select an answer from the options below.

A

pure competition

B

price competition

C

oligopoly

D

monopolistic competition

Question 8 of 10

When a small number of companies control the supply of a good or service, and where the barriers to entry for other companies are highly restrictive, it is called:


Select an answer from the options below.

A

non-price competition

B

monopolistic competition

C

an oligopoly

D

a monopoly

Question 9 of 10

When there are many suppliers, and barriers to entry are low, but suppliers try to differentiate their products and gain some price advantage, this is called:


Select an answer from the options below.

A

pure competition

B

monopolistic competition

C

an oligopoly

D

a price competition

Question 10 of 10

The U.S. economy is built on the economic system called ___________.


Select an answer from the options below.

A

privately-owned

B

innovation

C

direct competition

D

capitalism

Answer 1

Here are the answers:

1. C
2. A
3. C
4. D
5. B
6. A
7. A
8. C
9. B
10. D