VCE Economics - Unit 1 AOS 2 Quiz - Statistics

General Stats

Answer Stats

Question	Answer	% Correct
	Monopoly	93%
	Oligopoly	93%
	Free entry and exit	64%
	Monopolistic Competition	64%
What are the four types of market structures?	Perfect Competition	64%
	Perfect information	57%
What are the non-price factors affecting demand?	Disposable income	50%
	Interest rates	50%
What are the non-price factors affecting supply?**	Changes in costs of production	43%
	Homogenous products	36%
What are the conditions or assumptions of a perfectly competitive market?*	Many buyers and sellers	36%
	Price of substitutes	36%
	Changes in population	29%
	Price takers	29%
	Productivity growth	29%
	Cartel conduct	21%
	Climatic conditions	21%
	Government intervention	21%
	Government intervention	21%
What are the strategies businesses employ to increase profitability?	Multibranding	21%
	Predatory Pricing	21%
	Price discrimination	21%
	Consumer sentiment	14%
	Preferences and tastes	14%
	Technological change	14%
	No advertising	7%
	Price of compliments	7%
	Resource mobility	7%

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