Monopolies

What is the name given to a type of business that has complete market control over the provision of a product or service?

Monopolies are typically _____ organisations.

• Large

• Small

TRUE or FALSE: Monopolies are good for customers

• TRUE

• FALSE

Monopolies have the power to unfairly ________ prices.

What was the name of the two rival taxi companies we learned about in today's lesson?

• Uber and Lyft

• Black Cabs and Uber

• Lyft and AC Taxis

• Uber, Lyft and AC Taxis

Apple, Amazon and ______ hold tremendous power over who enters the apps and technology market.

A nation's __________ holds the final say over how large an organisation grows

• Government

• Public

• Customers

• Suppliers

If a monopoly exists, this will typically result in (select all that apply)

• Fewer, less varied products

• A wide variety of products

• Higher prices for customers

• Lower prices for customers

When a monopoly exists, this is an example of market ______.

• Success

• Failure

How many barriers can a monopoly put in place to put off rivals entering their market?

• 1

• 2

• 3

• 4