PBA #2

Sells identical products

• Monopolistic Competition

• Perfectly competition

• Monopoly

• Oligopoly

When companies divide the market, set prices, and limit production

• Cartel

• Monopoly

• Collusion

• Franchise

Which is not an advantage of sole proprietorship ?

• easy start up costs

• full profit

• little regulation

• easy to borrow money

Selling similar but not identical products

• Perfect competition

• Monopolistic Competition

• Oligopoly

• Monopoly

What happens to a company if they raise their prices in a perfectly competitive market

• they make more profit

• consumers buy a cheaper product

• they advertise more

• become a monopoly

What is a semi independent business that pays fees to a parent company to sell a product

• Monopoly

• Corporation

• Franchise

• Partnership

Business type that makes up largest number of businesses

• Corporation

• Non Profit

• Sole Proprietorship

• Partnership

Type of business that makes up the largest portion of sales in the U.S.

• Corporation

• Monopoly

• Franchise

• partnership

Where supply of labor meets demand for labor

• quantity equilibrium

• wage equilibrium

• price equilibrium

• product equilibrium

How will a recession affect the unemployment rate?

• unemployment will increase

• unemployment will decrease

• employment will increase

• employment will decrease