Chapter 9 and 10

The global economy is the ______ economies of the nations of the world

• independent

• integrated

• interconnected

• internationalized

Which term refers to the price relationship between the currencies of two different countries? _______

• appreciation

• exchange rate

• foreign exchange market

• depreciation

The ______ government oversees the business that takes place within a state

• County

• Federal

• Local

• State

The situation that occurs when a company controls an industry or is the only one to offer a product or service is called a(n) ______ .

• trust

• oligopoly

• monopoly

• merger

Monetary grants given to producers to encourage certain behaviors are called ______ .

• exemptions

• endowments

• subsidies

• deductions

When a country exports more than it imports, it has a trade ______

___________is a group of companies that band together to form monopoly & cut out competition

What is the biggest difference between a monopoly and an oligopoly?

• Consumers prefer monopolies because they mean lower prices than oligopolies.

• An oligopoly is formed by a small number of companies rather than just one

• There is no competition with an oligopoly as there is with a monopoly.

• A monopoly limits choices for consumers; an oligopoly expands choice.

Explain 5 aspects of the government’s role in society

Explain the 3 ways that is used in trade barriers