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Monopolies & Oligopolies in the US Economy

Instructions:

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question 1 of 3

Which of these was NOT a monopoly?

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1. Which of these is a legal monopoly?

2. What is the name given to an oligopoly that acts like a monopoly?

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About This Quiz & Worksheet

Within a few minutes, you can take this self-assessment quiz on the subject of monopolies and oligopolies in the US economy. You will be tested on the terms of the subject and about examples that show your knowledge level.

Quiz & Worksheet Goals

The quiz will test your knowledge regarding:

  • The definition and examples of a monopoly
  • A legally acceptable monopoly
  • The meaning of an oligopoly along with examples
  • Government action to end a monopoly
  • The example of Standard Oil as regards monopolies and oligopolies

Skills Practiced

By taking this quiz, you will be able to test skills like:

  • Reading comprehension - ensure that you draw the most important information from the concept of legal monopolies
  • Interpreting information - verify that you can review information about government action against monopolies and interpret it correctly
  • Information recall - access the knowledge you've gained regarding Standard Oil and monopolies

Additional Learning

Our lesson called Monopolies & Oligopolies in the US Economy can provide more information on this subject. It will expose you to:

  • The balance between buyers and sellers
  • Examples of the effects of monopolies of the past
  • Monopolies that are allowed to exist today
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