Question

matching 1/1 points
match each term to the correct definition.
laws that promote fair trade and competition among businesses are known as ____ laws.
something that is not directly connected to an economic activity but that affects people is called a(n) ____.
ownership in a corporation is divided into ____.
the central bank in the united states is the ____.
occurs when two or more businesses in an industry agree to sell the same good or service at the same price
rate of change in prices calculated on a monthly or yearly basis
activities involved in buying and selling goods on a large scale
market structure with one business that has complete control of a markets entire supply of goods and services
a competitive advantage based on factors other than price is ____ competition.

Explanation:

1. Laws promoting fair - trade and competition are antitrust laws. They aim to prevent monopolies and promote a level - playing field in business.
2. Something not directly related to economic activity but affecting people can be an externality. Externalities can be positive or negative and impact society beyond the direct economic transaction.
3. Ownership in a corporation is divided into shares. Shareholders own a portion of the corporation based on the number of shares they hold.
4. The central bank in the United States is the Federal Reserve. It is responsible for monetary policy, regulating banks, and maintaining financial stability.
5. When two or more businesses in an industry agree to sell the same good or service at the same price, it is price - fixing, which is an illegal anti - competitive practice.
6. The rate of change in prices calculated on a monthly or yearly basis is inflation. It measures the general increase in the price level of goods and services over time.
7. Activities involved in buying and selling goods on a large scale are called commerce. It encompasses various aspects of trade and business operations.
8. A market structure with one business that has complete control of a market's entire supply of goods and services is a monopoly. Monopolies can lead to higher prices and reduced output.
9. A competitive advantage based on factors other than price is non - price competition. This can include product quality, brand image, customer service, etc.

Answer:

1. Antitrust
2. Externality
3. Shares
4. Federal Reserve
5. Price - fixing
6. Inflation
7. Commerce
8. Monopoly
9. Non - price