VCE Economics - Unit 1 AOS 2 Quiz - Statistics

General Stats

Answer Stats

Question	Answer	% Correct
	Monopoly	92%
	Oligopoly	92%
	Free entry and exit	69%
	Monopolistic Competition	62%
What are the four types of market structures?	Perfect Competition	62%
	Perfect information	62%
What are the non-price factors affecting demand?	Disposable income	54%
	Interest rates	54%
What are the non-price factors affecting supply?**	Changes in costs of production	46%
	Homogenous products	38%
What are the conditions or assumptions of a perfectly competitive market?*	Many buyers and sellers	38%
	Price of substitutes	38%
	Changes in population	31%
	Price takers	31%
	Productivity growth	31%
	Cartel conduct	23%
	Climatic conditions	23%
	Government intervention	23%
	Government intervention	23%
What are the strategies businesses employ to increase profitability?	Multibranding	23%
	Predatory Pricing	23%
	Price discrimination	23%
	Consumer sentiment	15%
	Preferences and tastes	15%
	Technological change	15%
	No advertising	8%
	Price of compliments	8%
	Resource mobility	8%

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