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Business Management Chapter 11 Flashcards | StudBud
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Business Management Chapter 11
Business Management Chapter 11
63 terms
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113 plays
Monopoly, oligopoly, copyright, patents, taxes
Flashcards
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Questions
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Answers
1
True or False: Only the owner of a trademark may use the symbol assigned.
True
False
2
Grants given to producers or consumers to lower the costs that they face?
Profit
Subsidies
Taxes
Revenue
3
A name, symbol, or characteristic that identifies a product is a?
copyright
motto
trademark
slogan
4
Intrastate commerce is overseen by?
state governments
federal government
local governments
all of the above
5
The image below is an example of many different types of?
Copyrights
Trademarks
Name Brands
Patent
6
Which of the following is NOT a type of patent?
Idea
Plant
Design
Utility
7
The U.S. government passed antitrust laws to?
restrict trade
encourage monopolies
promote competition
ensure product safety
8
The process of deciding the best way to spend tax revenues is called?
Allocate
Tax break
Tax incentive
Subsidies
9
Which is the type of commerce that takes place within the state?
interstate
inner city
intrastate
Suburban
10
What is the legal grant for sole right to own an invention?
Will
Copyright
Patent
Trademark
11
True or False: Taxes can be levied to discourage certain behaviors?
False
True
12
Which of the following is a name, symbol or characteristic that identifies a product?
Trademark
Copyright
Patent
Will
13
In the United States, the length of a copyright term is the life of the author plus?
10 years
50 years
25 years
70 years
14
Which of the following is a document that gives an artist the right to own their own creations?
Will
Patent
Copyright
Trademark
15
Taxes are the means in which people and businesses pay for government services and goods.
False
True
16
Which of the following is a negative effect of a monopoly?
All of the above
Possible poor quality
Possible higher prices
Lack of competition
17
The government is the largest provider of services in the country.
False
True
18
What is a group of companies that band together to cut out competition.
Trust
Monopoly
Oligopoly
All of the above
19
A trade secret is kept to maintain an advantage over competitors, it can include?
Recipe
All of the above
Formulas
Software
20
Income that the government gets from all sources is called?
Subsidies
Profit
Taxes
Revenue
21
The image below is an example of a?
Trade Mark
Copyright
Brand Name
Patent
22
Which of the following agencies regulates safety in the workplace?
CPSC
OSHA
FDA
EPA
23
Who is the largest employer in the United States?
the Government
Microsoft
Disney Productions
the NFL
24
The largest provider of services in this country is?
The oil industry
Telephone Companies
The government
Technology Companies
25
Local taxes pay for?
Interstate highways
Defense
City streets and parks
Motor vehicle department
26
Which of the following would NOT be an example of local government.
Cities
Towns
Counties
State
27
Another name for a subsidy is a?
Loan
Grant
Tax
None of the above
28
The symbol below indicates that the product has a?
Trademark
Patent
Copyright
Brand Name
29
Worker protection laws?
Eliminates outsourcing
Requires health insurance to be provided
Guarantees employees earning a living wage
Imposes safety requirements
30
A temporary reduction or elimination of taxes?
Tax Incentive
Tax break
Tax Decrease
Tax Increase
31
This is the term used to hire a business to offer a public good or service.
Trust
Monopoly
Oligopoly
Privatization
32
Which of the following is an example of privatization?
A concession stand at a state beach
A private high school
A concession stand at Yankee Stadium
A high school cafeteria
33
What is the act of a small number of companies controlling an industry?
All of the above
Monopoly
Trust
Oligopoly
34
The image below is an example of a?
Copyright
Patent
Trade Mark
Brand Name
35
Monopolies limit choice, but oligopolies promote choice.
False
True
36
Copyright laws apply to which of the following?
Books
All of the above
Drawings
Movies
37
True or False: A written contract is the safest form of a contract.
False
True
38
In a market economy, a country's economic health depends on businesses doing well.
True
False
39
A patented product cannot be copied without permission?
for 20 years after the patent has been filed
until the invention is no longer in use
as long as the author is alive
for 10 years after the authors life
40
Which of the following would NOT be an example of a private goods or service?
Housekeeping services
Clothing
Computers
Bridges
41
What is the act of a company controlling an industry?
Monopoly
All of the above
Oligopoly
Trust
42
A tax break is?
Suspension of taxes to provide relief for the taxpayer
Break-even point in the calendar year for taxpayers
Amount of tax levied that the taxpayer cannot afford
A benefit given to promote economic or social objectives
43
The symbol below indicates that the product has a?
Patent
Copyright
Brand Name
Trademark
44
Patents are filed with?
U.S. Patent and Trademark Office
U.S. Patent Department
U.S. Patent and Trademark Department
U.S. Patient Department
45
The FTC stands for?
Federal Tariff Commission
Fair Trademark Commission
Federal Trade Commission
Fair Tax Commission
46
All of the following are transfer payments except?
Veterans' benefits
Unemployment pay
Social Security
Income tax refunds
47
The role of the Small Business Administration is to?
All of the above
Offer loans and advice to small businesses
Act as an advocate for small business with the government
Encourage development of small businesses
48
Which of the following is not one of the levels of government?
Universal
Local
Federal
State
49
How long is a patent good for when registered with the patent office?
Lifetime of the product
15 years
20 years
10 years
50
Which of the following agencies regulate food and drug safety?
EPA
FDA
OSHA
FED
51
Which of the following is not a public good
Schools
Shopping Malls
Highways
Libraries
52
Which of the following are ways in which the government protects consumers?
Fair Competition
Prevent unfair business practices
All of the above
Product Safety
53
One of the government roles is to?
Generate sales revenues
Guarantee safety for all
Foster economic success
Provide health care for all
54
The image below is an example of a?
Copyright
Name Brand
Patent
Trademark
55
What is called when one party fails to live up to the terms of the contract?
LOSER
Privatization
Breach of agreement
Breach of contract
56
Which of the following agencies regulate banking laws?
FDA
FED
SEC
CPSC
57
Which of the following agencies regulates interstate trade?
IRS
EPA
FDA
FTC
58
Governments allocate resources by?
Giving most of their funding to the military
Deciding how to spend tax revenues
Give political candidates money to fund campaigns
Fund non-profit organizations
59
Being fanciful, arbitrary, suggestive and descriptive are all part of the process to create a?
Brand Name
Product
Logo
Trademark
60
An amount of money that people and businesses pay to the government to help run them.
Subsidies
Revenue
Profit
Taxes
61
Which of the following would fall in the category of public goods and services?
Social security and unemployment
Sale of merchandise in a retail store
Revenue from tolls, fines and tickets
Highways, bridges and water treatment plants
62
Contracts are only valid when written.
True
False
63
True or False: A contract can be sealed with a handshake.
True
False
