Monopoly period - Guides d'étude, Notes de cours & Résumés

Cornelius Vanderbilt - Wealthy Railroad baron, a true symbol of the "Gilded Age," known as the Commodore. A college in Tennessee bears his name. Andrew Carnegie - owned U.S. Steel and used Vertical integration to monopolize the steel industry. Gave millions to build libraries and schools. Henry Bessemer - Invented the process to make high-quality steel quickly and cheaply. The process was used by Andrew Carnegie to build a monopoly in the steel industry in America. Steel was used to buil...

MKT-315 GCU MIDTERMCREST method - correct answer C: "Calm the Customer" R: "Repeat the Problem" E: Use "Empathy Statements" S: "Solve the Problem" T: Make a "Timely Response" - Good customer service increases customer loyalty and future sales. Maslow's Hierarchy of Needs - correct answer physiological, safety, love/belonging, esteem, self-actualization Types of Purchases - correct answer new task, straight rebuy, modified rebuy New task/buy - correct answer Purchases...

If, when a firm doubles all its inputs, its average cost of production decreases, then production displays a.) diminishing returns b.) economies of scale c.) diseconomies of scale d.) declining fixed costs correct answers b. ) economies of scale The long-run average cost curve shows A) the lowest average cost of producing every level of output in the long run. B) where the most profitable level of output occurs. C) the average cost of producing where diminishing returns are not prese...

Differences between Property and Contract Rights? (2) - Answer-K rights are only enforceable against contracting parties. Property rights are enforceable against the world What concept is the basis for the idea of property rights? - Answer-Exclusion (the power to exclude) Can you occupy possessions? - Answer-Yes. The person who possess "the fox" occupies it Encumbrance - Answer-A burden or charge upon an estate or property, so that it cannot be disposed of without being subject to it. A n...

laissez faire - Economic liberalism that believes in unrestricted private enterprise and no government interference in the economy. Social Darwinism - The application of ideas about evolution and "survival of the fittest" to human societies - particularly as a justification for their imperialist expansion. JP Morgan - An influential banker and businessman who bought and reorganized companies. His US Steel company would buy Carnegie steel and become the largest business in the world in 190...

ECS1601 Exam Latest Updated 2024 With 100% Correct Answers A flow variable is defined as a variable that is measured over a period. Which one of the following variables is not an example of a flow variable? [1] National income [2] The balance on Sibahle's savings account [3] Budget deficit [4] Total production - ANSWER-[2] The balance on Sibahle's savings account Which of the following is not an acceptable intervention by the public sector in a mixed economy? [1] the provisio...

1 square mile (acres) - 640 acres 1. limited in time 2. right of disposition 3. no titled interests - how do leasehold estates differ from freehold estates? 1. location monopoly 2. externalities 3. incomplete information - what is the economic basis for government regulation of real estate 1. mortgage 2. financial crisis 3. recession - 3 phases of 2007 collapse 1. user market 2. financial/capital market 3. government sector - Which markets is real estate influenced by? 3 ways to des...

Economics is the study of how individuals and societies satisfy their unlimited wants with limited resources. a. True b. False - Answer-a. True When rising interest rates make borrowing more costly, how does it affect the business cycle? a. It causes consumers to consume more and increases demand. b. It lowers demand, decreases household purchases, and promotes contraction. c. It causes conflicts overseas and reduces a nation's ability to import goods. d. It increases productivit...

Twisting - ANSWER Misrepresenting for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy. Unfair Discrimination - ANSWER Permitting individuals of the same class and equal life expectancy to be charged different rates for life insurance or annuities. Boycott, Coercion, Intimidation - ANSWER Entering into action resulting in an unreasonable restraint of, or monopoly in, the business of insurance. False Financial ...

APUSH Period Exam Elaboration |UPDATED| laissez faire *Ans* Economic liberalism that believes in unrestricted private enterprise and no government interference in the economy. Social Darwinism *Ans* The application of ideas about evolution and "survival of the fittest" to human societies - particularly as a justification for their imperialist expansion. JP Morgan *Ans* An influential banker and businessman who bought and reorganized companies. His US Steel company would buy Carnegi...