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Lesson 2 Ae Activity

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Beyoung Gamefight
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24 views

Lesson 2 Ae Activity

Uploaded by

Beyoung Gamefight
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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NAME: _______________________________________ SECTION: __________________

Directions: Read each question carefully and write TRUE or FALSE on the space
provided before each number.
______ 1. In a monopoly, many companies sell the same product.
______ 2. The government’s action can cause monopolies to emerge.
______ 3. The consumers benefit more in buying monopolized products.
______ 4. You are not allowed to buy a monopolized product.
______ 5. The entry and exit are blocked in monopoly.
______ 6. The firm’s ownership of a fundamental source can cause a monopoly.
______ 7. There are substitutes or alternatives to monopolized products.
______ 8. A natural monopoly can arise even without the government’s intervention.
______ 9. Monopolies are usually welcomed to society.
______ 10. Monopolies can cause a deadweight loss to the economy.
______ 11. The government can demand price regulations for monopolies.
______ 12. Monopolies are illegal businesses.
______ 13. Competitive markets produce lesser outputs than monopolies.

______ 14. The government cannot nationalize monopolies.


______ 15. The monopolist can set the product’s price.

Directions: State if the given situation is a MONOPOLY or NOT. (3 points each)

_____________ 1. Barbara went to the market yesterday to look for a cosmetic product.
She bought 5 pieces of it and they all have different brands.

_____________ 2. Your mom asked you to buy a Brand A Pancit Canton in Aling Nena’s
Store. Sadly, they ran out of it so you just bought Brand X Pancit
Canton.

_____________ 3. Achilles owns the only Art Shop in their town that’s why he raised
each material’s price and limited the products they make.

_____________ 4. Jason went to the mall last week to purchase a gift for Clara. He then
noticed that there was a newly opened accessory shop and bought a
necklace for her despite being too expensive.

_____________ 5. Your friend opened a cake shop. He then asked you to come and buy
some. You can’t complain so you ended up buying one.
Unexpectedly, it tasted good. When you came back there the
following week, the cake you bought last time was already
unavailable.

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