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What is a Monopoly in Economics? - Definition & Impact on Consumers Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following best defines a monopoly?

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1. Which is the best example of a regional monopoly?

2. What is the biggest risk associated with monopolies?

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About This Quiz & Worksheet

This quiz and worksheet combo will help you understand monopolies. You will be quizzed on its definition and examples of monopolies.

Quiz & Worksheet Goals

This quiz will test you on:

  • Conditions needed in order for a monopoly to exist
  • Examples of regional monopolies
  • Risks related with monopolies

Skills Practiced

This quiz and worksheet allows students to test the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on monopolies
  • Making connections - utilize your knowledge of monopolies to understand the risks related with their formation
  • Knowledge application - assess your understanding of monopolies by answering questions about how the U.S. government prevents their formation

Additional Learning

To review concepts related to monopolies, read through the brief lesson entitled What is a Monopoly in Economics: Definition & Impact on Consumers. This lesson will help you:

  • Understand the definition of a pure monopoly
  • Learn the regulations enacted to dissuade against monopolies
  • Recognize examples of monopolies
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