AnswersHSA 26-27 EconomicsMarket Structures and Competition

Market Structures and Competition Answers

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1
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According to the article, which of the following characteristics fit Standard Oil? Check all that apply.It practiced ruthless business techniques.It helped its competitors stay in business.It dominated the oil market.It controlled the transportation of oil.It successfully stopped journalists from writing about it.

A
It practiced ruthless business techniques.
B
It helped its competitors stay in business.
C
It dominated the oil market.
D
It controlled the transportation of oil.
E
It successfully stopped journalists from writing about it.
2
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Which best summarizes Ida Tarbell’s assessment of Standard Oil?

A
The company was appreciated in its community.
B
The company was interested in cooperating with other businesses.
C
The company was ruthless in its drive to eliminate competition.
D
The company was focused on establishing lower prices.
3

According to this passage, what was Roosevelt’s real reason for breaking up Standard Oil?

A
He believed that Standard Oil was unlikely to set high prices.
B
He wanted to prevent Standard Oil from expanding overseas.
C
He feared the control Standard Oil had in the market.
D
He wanted to limit consumer choices in the market.

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