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Market Structures and Types of Competition Flashcards | StudBud
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Market Structures and Types of Competition
Market Structures and Types of Competition
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Market Structures and Types of Competition
Flashcards
20 cards
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Questions
20
Answers
1
A merger in which one corporation owns a company for each step of production of a good is a ...
Vertical Merger
Mega Merger
Conglomerate
Horizontal Merger
2
The creation of anti-trust laws is an attempt by the government to break up monopolies?
False
True
3
T/F: Geographic monopolies make the biggest profits of the four different types of monopolies.
False
True
4
T or F: Conglomerates are made up similar types of businesses owned by a central corporation.
False
True
5
What type of merger did Vanderbilt employ when he bought up all of the stock of his competitors
The Best Merger
Vertical
Horizontal
Conglomerate
6
The market purely determines the price in what market structure?
Monopoly
Perfect Competition
Oligopoly
Monopolistic Competition
7
Which Market Structure is the easiest to enter as a new business?
Monopolistic Competition
Oligopoly
Perfect Competition
Monopoly
8
Which Market Structure consist of one firm that has most of the control over a product's price?
Monopoly
Monopolistic Competition
Oligopoly
Perfect Competition
9
When oligopolies secretly agree to raise the price to a similar product, this crime is called..
Product Differentiation
Collusion
Cartel
Copyright Infringement
10
Relaxing laws on the regulation or control over certain businesses is called?
Regulation
Easing
Deregulation
Cartel
11
Which Market Structure has the lowest level of competition?
Monopoly
Monopolistic Competition
Perfect Competition
Oligopoly
12
Which market structure most closely resembles the American economy?
Monopolistic Competition
Monopoly
Oligopoly
Perfect Competition
13
An oligopoly is more competitive than monopolistic competition.
True
False
14
T or F: A government monopoly is the same as a natural monopoly
False
True
15
"A market with the the most numerous sellers" best describes...
Perfect Competition
Oligopoly
Monopoly
Monopolistic Competition
16
Turing Pharmaceutical has what type of monopoly on the drug Daraprim:
Technological
Government
Natural
Geographic
17
If McDonald's bought Burger King, what type of merger would that be?
Horizontal
Conglomerate
Deregulated
Vertical
18
True or False: Oligopolies don't need advertising
True
False
19
an exclusive right to make, use, or sell an invention for a certain number of years is called..
economies of scale
a patent
a copyright
a geographic monopoly
20
The first law made in order to slow monopolies power was called?
Intolerable Act
The Clayton Act
Sherman Anti-Trust Act
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