
Monopolies
Authored by Ryan Kaminski
Social Studies
8th Grade
Used 3+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A monopoly is when:
One seller/business dominates an industry.
A few sellers/businesses dominate an industry.
Supply exceeds demand.
A business offers special gifts and coupons.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are monopolies usually illegal in the US?
They deprive the consumer of choices.
They force the consumer to pay high prices.
They make it difficult for new companies to enter the market.
All of the above.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In an oligopoly...
One seller dominates the market
A few sellers dominate the market
Many sellers are in the market
No sellers exist in the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What product did John Rockefeller sell to Americans to build his fortune?
Kerosene
Pipelines
Railroads
Steel
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the Name of the Oil Company John made?
Mobil oil
Standard oil
Chevron oil
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
I became rich by working in the steel industry.
Cornelius Vanderbilt
Andrew Carnegie
John D. Rockefeller
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is philanthropy?
a non-profit business working to improve foreign policy
an organization that helps people by making donations to research centers, schools, and libraries
to maintain control of the marketplace for a good or service
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