Intro to Business Chapter 11

What is business that takes place between states?

• intrastate commerce
• interstate commerce

What is business that takes place within states?

• interstate commerce
• intrastate commerce

What occurs when a company controls an industry or is the only one to offer a product or service?

• monopoly
• oligopoly
• trust
• manopoly

What occurs when a small number of companies control an industry?

• oligopoly
• monopoly
• antitrust
• trust

A group of companies that band together to form a monopoly and cut out competition

• trust
• antitrust
• monopoly
• oligopoly

Antitrust laws allow the federal government to break up monopolies, regulate them, or take control of them.

• true
• false

What is a legally enforceable agreement between two or more parties?

• contract
• copyright
• patent
• monopoly

A breach of agreement occurs when one party fails to live up to the terms of a contract.

• true
• false

What gives artists the legal right to own their creations?

• copyright
• patent
• trademark

What is a legal grant for the sole right to own an invention?

• patent
• copyright
• trademark