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Unit 4: Business Organizations and Market Structures Flashcards | StudBud
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Unit 4: Business Organizations and Market Structures
Stock represents ownership in a
Why might government grant this type of monopoly
Unit 4: Business Organizations and Market Structures
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StudBud Administration
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economics review
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Answers
1
Why might government grant this type of monopoly
foster innovation
to grow the market
to make tax revenue
to encourage competition
2
Stock represents ownership in a
franchise
corporation
partnership
sole proprietorship
3
What type of monopoly is granted under the use of patents?
geographic
natural
technological
government
4
Why isn't the market for bananas a good example of monopolistic competition?
small number of buyers and sellers
no product differentiation
limited liability
the use of advertising to sell bananas
5
In what type of market structure is price collusion most likely to occur?
monopoly
monopolistic competititon
pure competition
oligopoly
6
Which business organization is the easiest to form?
sole proprietorship
corporation
monopolistic competition
partnership
7
What disadvantage of corporations is illustrated by the picture?
double taxation
limited liability
competition
stockholders
8
Limited Liability applies to which of the following?
partnership
corporation
general partnership
sole proprietorship
9
What type of market structure do these companies operate within?
perfect competititon
monopolistic competition
oligopoly
monopoly
10
Utility industries often operate as what type of monopoly?
geographic
technological
natural
government
