Formal Organizations Are

question 20

Multiple Choice

Formal organizations are

• A)small groups with elected leaders.
• B)large secondary groups with a goal orientation.
• C)networks that have many members.
• D)only agencies that are part of the government.

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Definitions:

Monopoly Power

The ability of a single seller in a market to control prices and exclude competition.

Sherman Act

A landmark federal statute in the antitrust law of the United States, passed in 1890, which prohibits certain business activities that federal government regulators deem to be anti-competitive.

Alcoa Case

A 1945 case in which the courts ruled that the possession of monopoly power, no matter how reasonably that power had been used, was a violation of the antitrust laws; temporarily overturned the rule of reason applied in the U.S. Steel case.