
What is Monopoly
Authored by Amanda Estrella
Social Studies
5th Grade
Used 5+ times

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6 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A monopoly occurs when there's:
No sellers of a particular product
One seller of a particular product
Two sellers of a particular product
An abundance of supply and demand
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Monoploies often result in consumers paying _____ for products:
Low taxes
High taxes
High prices
Low prices
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
This individual owned the Standard Oil Company:
Walt Bessemer
John D. Rockefeller
Andrew Carnegie
Ulysses S. Grant
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
As a result of federal legislation passed to discourage monopiles, Standard Oil was forced to:
Declare bankruptcy
Buy railroad companies
Invest in steel and cotton mills
Recognize itself into smaller companies
5.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain why monopolies are able to charge high prices for their products
Evaluate responses using AI:
OFF
6.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe what happens to innovation in a monopoly
Evaluate responses using AI:
OFF
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