U6-2-2: Big Business #1 Question Preview (ID: 50330)


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The Panic of 1893 was caused by a failure in what industry?
a) railraods
b) farming
c) ship building
d) textiles

How could the government have prevented the Panic of 1893?
a) Regulate bank lending habits
b) Implement laissez faire policies
c) Regulate railroad investing
d) Make corporations illegal

What caused railroad prices to plummet and resulted in the Panic of 1893?
a) Supply increase
b) Supply decrease
c) Demand increase
d) Demand decrease

Which of the following is not a benefit of business competition?
a) Better prices
b) Better quality
c) Higher prices
d) Innovation

A secret alliance between business, often resulting in higher prices for consumers.
a) Capitalism
b) Communism
c) Competition
d) Collusion

Which of the following is a problem with laissez faire economics?
a) Collusion
b) Competition
c) Entrepreneurship
d) Innovation

What is the answer in social studies (or does a government policy work)?
a) Yes
b) No
c) Sometimes
d)

One business controls all of one product.
a) Collusion
b) Monopoly
c) Capitalism
d) Competition

Which of the following is not true of monopolies?
a) Higher prices
b) Lower quality
c) Competition
d) Bad for consumers

How are monopolies prevented in america?
a) consumer boycotts
b) antitrust laws
c) only through healthy and fair business competition
d) virtuous CEOs

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