Thursday, December 9, 2010

Post 4 - Please follow this link and take the three practice quizzes and write a blog about the 8 things you learned from these quizzes.

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"

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