Unit #4

Question 1

Monopoly

Answer 1

where one person or business has total control over a certain
product or industry

Question 2

Collusion

Answer 2

agree to raise their prices above market value

Question 3

Sherman Anti-Trust Act

Answer 3

stop the formation
of monopolies. 1890

Question 4

Oligopoly

Answer 4

4 or fewer companies control over 70% of
a certain market

Question 5

Patent

Answer 5

which states that no one else can sell that same product
for 20 years

Question 6

Oregon Rent Control

Answer 6

Landlords across Oregon will be allowed to raise rents by up to 14.6% in 2023

Question 7

Nebraska Minimum Wage

Answer 7

ncreases the minimum wage from $9 an hour to $10.50 in 2023, with gradual annual increases to $15 an hour by 2026 and annual inflationary adjustments in future years.

Question 8

Black Market Goods

Answer 8

things sold illegaly

Question 9

Black Market vs. Secondary Market

Answer 9

where investors buy and sell securities from other investors

Question 10

Monopolistic Competition

Answer 10

business has complete control of their brand of product and compete with other
brands.

Question 11

Non-Price Competition

Answer 11

Physical Characteristics
Location
Quality of Service
Advertising