Understanding Monopolies: A Crash Course Economics Quiz

Which historical figure was mentioned as an example of a monopolist?

• Benjamin Franklin

• Henry Ford

• Albert Einstein

• John D. Rockefeller

What is a key feature of a pure monopoly?

• Low barriers to entry

• High competition

• Multiple sellers

• A single seller with no close substitutes

What law was passed in 1890 to combat monopolies in the United States?

• The Federal Trade Commission Act

• The Clayton Act

• The Dodd-Frank Act

• The Sherman Act

What is an example of a natural monopoly?

• Basketball shoes

• Gourmet food trucks

• Internet search engines

• Electric utilities

What practice allows businesses to charge different prices to different consumers?

• Market sharing

• Vertical integration

• Price fixing

• Price discrimination