Intro to Business Management Ch. 11

Question 1

A company that controls an entire industry...

Accepted Answer

monopoly

Question 2

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

Accepted Answer

oligopoly

Question 3

Can be written, verbal, or made with a handshake...

Accepted Answer

contract

Question 4

What are payments the government gives to some businesses to make up for their losses called?

Accepted Answer

subsidies

Question 5

A monopoly can charge anything it wants for a product.

Accepted Answer

True

Question 6

Copyrights protect trade names of big business.

Accepted Answer

False

Question 7

Competition means fewer choices for consumers.

Accepted Answer

False

Question 8

Which of the following describes the job of the Federal Trade Commission?

Accepted Answer

regulates interstate trade

Question 9

Protects brand names...

Accepted Answer

Trademark

Question 10

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

Accepted Answer

copyright

Question 11

Who is the single largest provider of services in the US?

Accepted Answer

government

Question 12

Lends money to aspiring business owners...

Accepted Answer

Small Business Administration

Question 13

What do antitrust laws protect?

Accepted Answer

competition

Question 14

Protects artists work...

Accepted Answer

Copyright

Question 15

The Government created laws to regulate business.

Accepted Answer

True

Question 16

Protects inventors' work...

Accepted Answer

Patent

Question 17

Money government takes in...

Accepted Answer

revenue

Question 18

Government payment to a business to make up for losses...

Accepted Answer

subsidy

Question 19

Reward for oil companies that reduce pollution...

Accepted Answer

tax incentive

Question 20

All Contracts must be in writing to be binding.

Accepted Answer

False

Questions 20