Economic Systems and Identity Theft Flashcard

Front

How many parties control corporations?

Back

3

Front

Yes or No, is a monopoly considered a cartel in the business industry?

Back

Yes

Front

How much should be reported on the tax return of a sole proprietor?

Back

100%

Front

Yes or No: Is there a strategic competitor against a monopoly?

Back

No

Front

True or False: Perfect competition has no strategy against competitors.

Back

True

Front

True or False: An oligopoly is the only industry type that has a strategy against competitors.

Back

False

Front

Which scam involves paying money upfront with false promises of large returns?

Back

Advance fee scam

Front

Why is shredding important documents a good practice for protecting against identity theft?

Back

It prevents thieves from accessing sensitive information

Front

What is the primary goal of a Ponzi scheme?

Back

To use new investors’ money to pay returns to earlier investors

Front

What should you do if your credit card is stolen?

Back

Report it immediately and request a replacement.