Tuesday, December 7, 2010

Respones to Quiz's

            I learned from the consumers quiz’s that Consumers will profit more from a competitive market.  If there are any barrier to entry in a market, sellers cannot compete easily and fully.  Trusts are huge monopolies. They were prevalent in post-Civil War America.  Laissez-faire is a French word and it means “let the people do what they want”. The groups of acts were designed to monitor and regulate big business, prevent monopolies from forming, and dismantle existing monopolies.  The ICC was a group that had regulated the railroads until the commission was abolished in 1995.  By taking these quiz’s I have learned a lot of facts that I never knew before.

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