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Economics EOC Review Unit 3 Flashcards | StudBud
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Economics EOC Review Unit 3
Economics EOC Review Unit 3
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Business Systems and Forms of Competition
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
This type of merger combines businesses that make parts of one product.
Conglomerate
Vertical merger
Horizontal merger
Multinationals
2
This type of business is created from mergers of companies that make different products.
Vertical merger
Multiple mergers
Conglomerate
Horizontal merger
3
Why do people invest in companies?
They intend on losing money.
They want to diversify their portfolio.
People do not invest in companies.
They want to make a profit on dividends and stock sales.
4
A market that is made up of two to four businesses is
perfectly competitive
monopolistically competitive
a monopoly
an oligopoly
5
What does an entrepreneur provide in a free-enterprise system?
Money
Loans
Goods and services
Regulations
6
A market that is has many businesses that sell similar but not identical products is
monopolistically competitive
a monopoly
an oligopoly
perfectly competitive
7
This type of merger combines businesses that make the exact same product.
Horizontal merger
Identical mergers
Conglomerates
Vertical merger
8
A market that has many sellers that sell the same product is
monopolistically competitive
perfectly competitive
a monopoly
an oliopoly
9
Which best describes a sole proprietorship?
Shareholders are liable for the business.
No one is totally liable for the business.
Several people are totally liable for the business.
One person is totally liable for the business.
10
What is collective bargaining?
Fighting discrimination.
Negotiating wages.
Demanding goods
Debating prices
11
This type of business sells stock.
Corporations
Non-profits
Sole proprietorships
Partnerships
12
Which of the following is NOT a form of non-price competition?
Advertising
Price
Style
Location
13
A market that is dominated by one business is
monopolistically competitive
a monopoly
an oligopoly
perfectly competitive
14
A partnership is made up of
two or more people
the government only
shareholders
one person
15
What happens to prices when there are more suppliers in a market?
Price has nothing to do with supply.
Prices go down.
Prices go up.
Prices stay the same.
16
What is the basic goal of a labor union?
To own stock and make profits for shareholders.
To get benefits and higher pay for members.
To create lower prices for members.
To get benefits and lower pay for members.
