A company that sells its name to be used by another business is known
What is a franchise?
100
one with many sellers offering the same product in competition with each other.
What is a competitive market?
100
the men in the mid-1870s, who created oligopolies and monopolies were springing up all over the nation; called trusts: Rockefeller, Carnegie, J.P. Morgan, etc.
What are the robber barons?
200
unlimited liability
What is the biggest disadvantage of partnerships and sole proprietorships?
200
Financial instrument that make the owner a creditor of a corporation
What is a bond?
200
non-profit organization that provides services to its members
What is a cooperative?
200
market is a market where a few sellers dominate the market.
What is an oligopolistic market?
200
first federal law to encourage competition and abolish monopolies or oligopolies
What is the Sherman Anti-Trust Act?
300
Biggest advantage of corporations
What is limited liability
300
A type of stock investment that gives the owner a right to vote for the board of directors?
What is common stock?
300
occurs when a large parent company buys many other companies, often in unrelated industries, but sometimes in the same industry, to create a huge parent company.
What is a conglomerate?
300
illegal monopoly where one company tries to drive out all its competitors and stand alone as the only seller in the market.
What is a capitalistic monopoly?
300
The most successful anti-trust act
What is the Clayton Anti-trust Act?
400
Type of businesses that are most numerous vs the one that controls the most revenue
What are sole proprietorships vs. corporations?
400
the face value of a bond
What is par value
400
when firms more efficiently use their factors of production and their costs are declining as they produce additional units
What are economies of scale?
400
is created by the government when it gives a company the exclusive right to sell a product or service through granting a patent or a copyright
What is legal monopoly?
400
The agency created to enforce anti-trust laws
What is the Federal Trade Commission or FTC?
500
The government level that issues charters to corporations
What is the states?
500
bonds from which the owner gets periodic payments
What are coupon and bearer bonds
500
When a firm buys all the business processes and transportation that it takes to make a product,
What is vertical integration?
500
happens when market has many sellers and no barriers to entry like a competitive market, but the sellers differentiate their products so the products are not identical and each is a unique good as in a monopoly.
What is monopolistic competition
500
legislation that prohibited false or deceptive acts by firms. Mainly attempting to prevent false advertising,