Monopolies and Competition

Front

70% of the world's oil supply is controlled by _____ which functions as a relative monopoly.

Back

OPEC

Front

A ____ product is a product that consumers consider identical in all essential features (i.e. there isn't much difference across brands).

Back

Standardized

Front

If you want to enter a market where another business has monopoly-like powers, there is a barrier to ____ that makes it difficult to succeed.

Back

entry

Front

The CEO of Facbeook/Meta is ____.

Back

Mark Zuckerberg

Front

McDonalds is an example of how one can ____ their business to expand.

Back

franchise

Front

When two businesses combined it is called a(n) _____.

Back

merger

Front

Many businesses conduct a yearly ____ analysis to examine what they are doing well and not well.

Back

SWOT

Front

McDonalds was initially successful because it focused on quality and ____.

Back

speed

Front

The first McDonalds by the brothers was opened in the state of _____?

Back

California

Front

A monopoly is a price ____ because it doesn't have to consider competitors when setting prices.

Back

creator