Intro Ch 11 Review

A company that controls an entire industry

A monopoly can charge anything it wants for a product.

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

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

Reward for oil companies that reduce pollution

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

What do antitrust laws protect?

Lends money to aspiring business owners

Government payment to a business to make up for losses

All contracts must be in writing to be binding.

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

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

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

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

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

Copyrights protect trade names of big businesses.

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

protects inventors' work

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

Money the government takes in

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

The government created laws to regulate business.

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

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

Competition means fewer choices for consumers.