Thursday, December 9, 2010

"The 8 things"

1. Another word for monopoly is "trust".
2. In a monopoly, one seller controlls all production of good or service.
3, Cartels are a group of companies openly organized to control prices.  Cartels are illegal in the United States
4.The federal trade commision act was passed to investigate charges of unfair methods of compeition and commerce.
5. The term "laissez-faire" refers to the government not intervening in business at all in any way.
6. The intersetate commerce act was the first aint-trust law to be passed.
7. Oligopoly is the most common noncompetitive market in the United States
8. An example of a market where cartels exist is the diamond industry. 

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