Econ Unit 3 Vocab

What is a legal registration of an invention that gives exclusive rights to the creator?

• Franchise

• Patent

• Merger

• Stock

What type of business allows selling products using the same name and practices?

• Corporation

• Partnership

• Franchise

• Monopoly

What are profits paid to shareholders called?

• Stock

• Dividend

• Liability

• Merger

What represents ownership in a corporation?

• Stock

• Patent

• Liability

• Conglomerate

What is the legal obligation to pay debts called?

• Merger

• Liability

• Dividend

• Monopoly

What is the combining of two or more companies to form a single company called?

• Conglomerate

• Merger

• Partnership

• Franchise

What is a business composed of companies that produce unrelated goods or services?

• Monopoly

• Conglomerate

• Sole Proprietorship

• Corporation

What is a market structure with one company selling a product with no close substitutes?

• Oligopoly

• Monopoly

• Perfect Competition

• Partnership

What is a market structure where a few large firms dominate?

• Oligopoly

• Monopoly

• Perfect Competition

• Conglomerate

What is a market structure where many companies sell similar but not identical products?

• Monopoly

• Monopolistic Competition

• Oligopoly

• Perfect Competition