No Competition Flashcard

Front

What is a monopoly?

Back

a company that controls all or most of its market

Front

Are all monopolies illegal? Why or why not?

Back

Monopolies are illegal only if they control the market through monopolistic practices.

Front

As it is used in the article, what is a trust?

Back

a merger or agreement made by companies in order to unfairly control a market

Front

Which of the following monopolistic practices is Google accused of?
- buying concert venues to control ticket prices
- using unfair tactics to raise the prices vendors pay
- paying Apple to ensure users utilize its search engine
- secretly sharing user data across its platforms

Back

paying Apple to ensure users utilize its search engine

Front

The article describes K.J. Haakenson’s experience buying Taylor Swift tickets to ___.

Back

show why some customers are upset with Ticketmaster

Front

Which of the following statements from the article is represented by the cartoon on page 10? Options: “Market competition is thought to benefit consumers . . .”, “Government concerns over monopolies are nothing new.”, “Berchtold largely attributed Ticketmaster’s failings to online bots . . .”, “Many artists and venues say they have little choice but to use the site.”

Back

“Many artists and venues say they have little choice but to use the site.”

Front

In the last paragraph of “What’s a Monopoly?,” Rebecca Allensworth says, “Forty years of letting companies do what they want has resulted in . . . a lot of harm to consumers.” You can infer from her statement that ___.

Back

she thinks the government has stopped doing its duty

Front

In the above quote, you can describe Allensworth’s tone as ___.

Back

frustrated