Ready Set Compete LAP Quiz

Rivalry among two or more businesses to attract scarce customer dollars is __________.

• competition

• monopolistic competition

• direct competition

• nonprice competition

A type of market structure in which a market is controlled by one supplier is called__________.

• competition

• monopolistic competition

• direct competition

• nonprice competition

Rivalry between or among businesses that offer similar types of goods or services is called ______.

• competition

• monopolistic competition

• direct competition

• nonprice competition

A type of rivalry between or among businesses that involves factors other than price is called _______.

• competition

• monopolistic competition

• direct competition

• nonprice competition

Illegal business agreement in which businesses agree on prices of their goods or services is ________.

• price fixing

• market stucture

• price discrimination

• monopolistic competition

The return of part of the price a customer pays for a good or service is _________.

• rebate

• price pack

• coupon

• premium

A federal regulation that prohibits price discrimination

• Clayton Act

• Sherman Antitrust Act

• Robinson-Patman Act

• Federal Trade Commission Act

A federal regulation that established a regulatory agency, the FTC, to monitor business activities in order to prevent unfair competition

• Federal Trade Commission Act

• Robinson-patman Act

• Clayton Act

• Sherman Antitrust Act

A federal regulation intended to protect competitors from takeovers that would limit competition

• Federal Trade Commission Act

• Robinson-patman Act

• Sherman Antitrust Act

• Celler-Kefauver Antimerger Act

An illegal agreement that forbids customers from buying goods and services from competitors

• private enterprise system

• build-operate-transfer arrangement

• exclusive agreement

• federal trade commission act