3.03 Quiz: How much is too much? K12 vava 1. What is a monopoly?

A. a business owned by many people called stockholders.
B. a market that has only one seller of a product, and the seller can influence the price of the product.
C. a system in which people earn wages and buy the goods and services they choose.
D. a market that relies on the trading of goods and services without the use of money.

2.What is a trust?

A. a market that has only one seller of a product, and the seller can influence the price of the product.
B. an economic system in which the government or another central administration regulates supply and prices.
C. an organization where many different companies in one industry are owned and run by the same people.
D. a business owned by many people called stockholders.

3.What is a command economy?

A. a market that has only one seller of a product, and the seller can influence the price of the product
B. a system in which people earn wages and buy the goods and services they choose.
C. a market that relies on the trading of goods and services without the use of money.
D. an economic system in which the government or another central administration regulates supply and prices.

4.What is a market economy?

A. an economic system in which the government or another central administration regulates supply and prices.
B. an economic system that is a combination of both command and market economies.
C. a system in which people earn wages and buy the goods and services they choose.
D. a market that relies on the trading of goods and services without the use of money.

5. What is a hybrid economy?

A. a market that relies on the trading of goods and services without the use of money.
B. an economic system in which the government or another central administration regulates supply and prices.
C. an economic system that is a combination of both command and market economies.
D. a system in which people earn wages and buy the goods and services they choose.

6. What is a corporation?

A. a system in which people earn wages and buy the goods and services they choose.
B. a situation where many different companies in one industry are owned and run by the same people.
C. a market that relies on the trading of goods and services without the use of money.
D. a business owned by many people called stockholders.

7. Which statement explains an advantage of a monopoly?

A. It can ensure that prices are set by the market.
B. It can help small businesses get started.
C. It can more efficiently produce goods.
D. It can increase competition in the economy.

8. What are two disadvantages of a monopoly?
Choose exactly two answers that are correct.

A. Goods cost far more to produce.
B. Taxes become higher.
C. Consumers have no protection from poor quality or high prices.
D. Competition by other businesses is eliminated.

9. What was the purpose of the Sherman Antitrust Act?

A. to raise taxes on large corporations.
B. to protect workers' rights to strike.
C. to prevent the creation of monopolies.
D. to determine how much steel should be produced each year.

Thank you. If you can help, Ill mark you the brainliest and give 50 points. This isjust help for other people. :)