A ________ ________ is an organization that supplies a service or product vital to all people.
public service
utility service
public utility
none of the above
A monopoly exists when a business has control of the market. The following is an example of a monopoly.
Selling products that are significantly different in various stores.
Different soda companies selling different brands at different prices.
A company operates in structures in which there are other able and worthy competitors.
A company that owns all the major brands of sunglasses.
Antitrust laws prevent unfair business practices. Which of the following would be considered as an unfair business practice?
False advertising
Deceptive pricing
Misleading labeling
All of the above
Types of taxes paid based on a person's income.
sales tax
personal tax
income tax
property tax
This tax is based on the value land and building.
home taxes
property taxes
land taxes
state taxes
Jerry went to the store to buy a baseball bat for $85.00. This store is required to charge Jerry _____ _____ at a 6.25% rate. His total purchase is now $90.31. The seller is required to send $5.31 to the state.