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Monopoly: Quiz


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Question 1: - - In a world of ________, international cartels would disappear even more quickly.
MercantilismFree trade debateFree tradeTrade bloc

Question 2: As long as the price elasticity of demand for most customers is less than one in ________, it is advantageous for a firm to increase its prices: it then receives more money for fewer goods.
Absolute valueComplex numberVector spaceEuclidean space

Question 3: This is called ________, whereas in oligopoly the main theoretical framework revolves around firm's strategic interactions.
Monopolistic competitionEconomicsJEL classification codesPerfect competition

Question 4: ________; created as a legal trading monopoly in 1602.
Dutch West India CompanyDutch EmpireFrench East India CompanyDutch East India Company

Question 5: [2] The verb "monopolize" refers to the process by which a firm gains persistently greater market share than what is expected under ________.
Neoclassical economicsJEL classification codesEconomicsPerfect competition

Question 6: ________; survived U.S.
Major League BaseballNational LeagueBaseball awardsAmerican League

Question 7: Standard Oil; broken up in 1911, two of its surviving "baby companies" are ExxonMobil and the ________.
Chevron CorporationBoeingAlcoaAT&T

Question 8: ________; local loop unbundling enforced by central government.
Telecom New ZealandAustralia and New Zealand Banking GroupWestpacTelstra

Question 9: ________ has a near exclusive control over the sale of used games, and frequently buys out competing companies.
Amazon.comDelawareGameStopUnited States

Question 10: ________ was criticized as a price gouging monopoly in the late 19th century.
TeleprinterGTEWestern UnionAT&T

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