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Econ- Chapter 8 And 9
Test Description: Business
Instructions: Answer all questions to get your test result.
1) When two or more companies in the same business combine into one corporation, the transaction is known as:
A
Horizontal merger
B
Vertical merger
C
Joint venture
D
Conglomerate merger
2) A merger that controls all steps in the production process is known as:
A
Horizontal merger
B
Vertical merger
C
Joint venture
D
Conglomerate merger
3) In a perfectly competitive market, prices are determined by:
A
Government regulations
B
Supply and demand
C
A group of seller
D
The Government
4) Government regulations actually decrease competition in the economy by:
A
Trying to protect consumers from unfair practices
B
Using antitrust legislation against monopolies
C
Allowing foreign companies to compete in the U.S.
D
Preventing the formation of conglomerates
5) One advantage of an oligopoly is:
A
Better services
B
More stable prices
C
Lower prices per product
D
Fewer product offerings
6) Nonprice competition is a characteristic of both:
A
Perfect competition and pure monopoly
B
Oligopoly and perfect competition
C
Monopolistic competition and oligopoly
D
Monopolistic competition and pure monoploy
7) What is the main purpose of advertising in monopolistic competition?
A
Lowering prices among competitors
B
Showing how similar a product is to its competitors
C
Building brand loyalty
D
Informing consumers that there are no other choices
8) Natural monopolies are businesses that:
A
Are unregulated
B
Provide such things as utilities, public transportation and cable TV
C
Compete against other monopolies
D
Deal with natural resources
9) In a perfectly competitive market, there would be:
A
Guaranteed profitablity
B
Numerous buyers and sellers
C
Strict control over price
D
Many barriers to entry
10) Interlocking directorates occur when the boards of directors of competing companies:
A
Sell their companies to one another
B
Buy out similar firms in their industry
C
Are composed of many of the same members
D
Obtain a monopoly in a particular industry
11) An example of antitrust legislation is the:
A
Wade Act
B
American with Disabilities Act
C
Clayton Act
D
Truth in Lending Act
12) This federal regulatory agency regulates the workplace environment; makes sure that businesses provide workers with safe and healthful working conditions:
A
Equal Employment Opportunity Commission
B
Occupational Safety and Health Administration
C
Environmental Protection Agency
D
Nuclear Regulatory Agency
13) a merger between firms that are involved in totally unrelated business activities:
A
Horizontal merger
B
Conglomerate merger
C
Vertical merger
D
Joint venture
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