Intro Ch 11 Review

A small number of companies controlling the market without forming a trust.

____ are the government's main source of revenue, or income.

____ is the single largest provider of services in the country.

A monopoly can charge anything it wants for a product.

The government created laws to regulate business.

Who is the single largest provider of services in the United States?

Competition means fewer choices for consumers.

Which of the following is NOT one of the four aspects of the economy that is regulated by govt?

What do antitrust laws protect?

Which of following gives artists the sole right to own their creations, such as plays & music?

All contracts must be in writing to be binding.

protects inventors' work

Copyrights protect trade names of big businesses.

Product names such as VISA, Doritos, & Kellogg's Rice Krispies Treats are protected by ___

Which of these is NOT a public service the government provides?

Reward for oil companies that reduce pollution

Lends money to aspiring business owners

When rival companies form a monopoly by banding together into a ___, they agree not to compete

A company that controls an entire industry

Money the government takes in

State governments focus on __ commerce, or business within each state.

Government payment to a business to make up for losses

A(n) _____ is a legal agreement between two or more parties.

If you fail to live up to the terms of a written agreement, you are said to be guilty of __

Which of the following describes the job of the Federal Trade Commission (FTC)?