Ch. 7 Flashcard

Ch. 7 Flashcard

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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13 questions

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1.

FLASHCARD QUESTION

Front

The game console industry is an example of

Back

An oligopoly

2.

FLASHCARD QUESTION

Front

Microsoft has been accused of being a(n) ______ and has been fined by the government

Back

monopoly

3.

FLASHCARD QUESTION

Front

How might an oligopoly control prices?

Back

Collusion, Price leadership, Nonprice competition

4.

FLASHCARD QUESTION

Front

What kind of monopoly does the granting of patents encourage?

Back

Technological Monopoly

5.

FLASHCARD QUESTION

Front

What kind of monopoly often provides public goods?

Back

Government Monopoly

6.

FLASHCARD QUESTION

Front

When sellers secretly agree to set production levels or prices, it is called

Back

collusion

7.

FLASHCARD QUESTION

Front

Which is an industry in a monopolistically competitive market? Cell phone providers, Fast- food restaurants, Strawberry production, Boardwalk

Back

Fast- food restaurants

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