1. Oligopoly is the most common non competitive market in the US
2. Price wars only occur when the price policy fails
3. A cartel doesnt have to just deal with drugs
4. Something such as diamonds can be part of a cartel
5. Another word for monopoly is a trust
6. One of the best known monopolies was Sherman Oil
7. In the 1940's the US passed many laws to break up monopolies
8. Laissez-faire means "Hands Off"