The Role of Government in Business

When the federal govt focuses on business that takes place across all states it is:

• Interstate Commerce

• Intrastate Commerce

When the state govt focus on business within each state it is:

• Interstate Commerce

• Intrastate Commerce

When a small number of companies control the market without actually forming a trust it is:

• Oligopoly

• Monopoly

• Trust

• Antitrust Laws

A company that controls an entire industry is a:

• Oligopoly

• Monopoly

• Trust

• Antitrust Laws

An agreement not to compete with rival companies is a:

• Oligopoly

• Monopoly

• Trust

• Antitrust Laws

This allows the govt to break up monopolies, regulate them, or take them over:

• Oligopoly

• Monopoly

• Trust

• Antitrust Laws

A legal agreement between two or more parties to conduct business is a:

• Contract

• Breach of Contract

When one party fails to live up to the terms of a contract it is a:

• Contract

• Breach of Contract

Contracts can be written, verbal, or a handshake.

• True

• False

A _____ gives artists sole right to own their creations and will last 70 years after the death of the artist.

• Copyright

• Patent

• Trademark