Boeing, Northrup Grumman, and Lockheed Martin Control the Vast Majority

question 32

Multiple Choice

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

• A) an oligopoly.
• B) a trilateral monopoly.
• C) a pure monopoly.
• D) a pure competition.
• E) a monopolistic competition.

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Definitions:

Primary Liability

The direct responsibility to pay a debt or fulfill an obligation, without relying on another to first default.

Certified Check

A personal check for which the issuing bank guarantees payment by certifying that sufficient funds are available and set aside.

Liable

Legally responsible or obligated, often in the context of owing compensation for harm or damages caused.

Liability

A legal responsibility for one's actions or omissions, which may result in having to pay damages or make restitution in a civil lawsuit.