Which of the following is a government allowed monopoly?
airline industry
utility industry
oil production
wheat production
2. Multiple Choice
30 seconds
1 pt
Market structure where many firms compete for a share of the market through product differentiation
partnership
pure competition
monopolistic competiton
monopoly
3. Multiple Choice
30 seconds
1 pt
Business organization that has the least difficulty raising money
corporation
partnership
wholesalers
sole proprietorship
4. Multiple Choice
30 seconds
1 pt
Which of the following is not a public good?
national parks
highways
city libraries
shopping malls
5. Multiple Choice
30 seconds
1 pt
Stocks:_________. Bonds:_______________.
supply, demand
dividends, interest
lending, buying
corporation, sole proprietorship
6. Multiple Choice
30 seconds
1 pt
When management doesn't allow the workers to work until an agreement is reached
lockout
boycott
market failure
court injunction
7. Multiple Choice
30 seconds
1 pt
How can oligopolies legally control prices?
collusion
standardized products
price leadership
conglomerates
8. Multiple Choice
30 seconds
1 pt
A company bought out every step of the production process from beginning to end. They own the production, the transportation of the product, and the stores where it's sold. What is this describing?
conglomerate
horizontal merger
vertical merger
partnership
9. Multiple Choice
30 seconds
1 pt
Which of the following is not monopolistic competition?
grocery stores
clothing stores
restaurants
cell phone providers
10. Multiple Choice
30 seconds
1 pt
An example of a horizontal merger might be if a:
publishing company bought a movie company
textile company became a multinational corporation
food chain bought another food chain
trucking company bought an airline
11. Multiple Choice
30 seconds
1 pt
An organized refusal to buy from a particular company is called:
strike
picket
boycott
lockout
12. Multiple Choice
30 seconds
1 pt
True or False: Horizontal mergers benefit consumers with increased competition and lower prices
true
false
13. Multiple Choice
30 seconds
1 pt
Which of the following may be a negative externality resulting from the expansion of a local airport?
people near the airport lose value in their house and deal with traffic
There is a rise in retail in the area
Additional employment is needed at the airport
There is an unexpected benefit for a third party not involved in the expansion.
14. Multiple Choice
30 seconds
1 pt
If you had a grievance against management, the least disruptive way to resolve the issue would be to
boycott
lockout
strike
collectively bargain
15. Multiple Choice
30 seconds
1 pt
When two sides listen to suggestions from an objective third party but neither side must accept the suggestions
mediation
binding arbitration
injunction
collective bargaining
16. Multiple Choice
30 seconds
1 pt
Business owners face unlimited liability for business debts in:
a corporation
a partnership, but not in a sole proprietorship
a sole proprietorship, but not a partnership
both a sole proprietorship and a partnership
17. Multiple Choice
30 seconds
1 pt
Collusion among firms in an industry is most likely under conditions of
perfect competition
oligopoly
monopolistic competition
monopoly
18. Multiple Choice
30 seconds
1 pt
The purpose of a business engaging in a conglomerate combination is to
reduce the risk of failure
make production more efficient
decrease competition and raise prices
all of the above
19. Multiple Choice
30 seconds
1 pt
True or false: The danger of horizontal mergers is it could lead to a monopoly
true
false
20. Multiple Choice
30 seconds
1 pt
Both labor and management agree to talk to a third party and both sides must agree to the decision is a/an