In the Town of Econ City, a Single Employer Dominates

question 228

Multiple Choice

In the town of Econ City, a single employer dominates the labor market. This is an example of a(n)

• A) monopoly.
• B) monopsony.
• C) oligopoly.
• D) efficiency.

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Definitions:

Microcontinent

A relatively small fragment of a continental plate that has been isolated due to tectonic processes.

Foreland Basin

A structural basin located in front of mountain ranges, formed by the earth's crust flexing downward due to the weight of thrust sheets.

Island Arc

An arc of volcanic islands that forms along the edge of a tectonic plate, usually above a plate that is being subducted.

Rifting

The process by which the Earth's crust is stretched and broken apart, leading to the formation of rift valleys and, eventually, new ocean basins.