The First Crusade

question 15

Multiple Choice

The First Crusade:

• A) strengthened Byzantine control over trade in the eastern Mediterranean.
• B) weakened Byzantine control over trade in the eastern Mediterranean.
• C) disrupted Byzantine trade along the Silk Road to China.
• D) had little impact on Byzantine trade because the Crusaders were primarily motivated by religion, not commercial gain.
• E) disrupted the trade routes between Byzantium and western Europe.

Identify the roles and functions of the Federal Trade Commission (FTC) and the Department of Justice in enforcing antitrust laws.

Differentiate between the major antitrust laws: Sherman Act, Clayton Act, Federal Trade Commission Act, and Celler-Kefauver Act.

Recognize the legal consequences for violations of antitrust laws, including the concept of treble damages.

Analyze real and hypothetical business practices for compliance with antitrust laws, specifically recognizing what constitutes illegal mergers, price discrimination, and restraints of trade.

---

Definitions:

Conversion Costs

The combined costs of direct labor and manufacturing overhead incurred to convert raw materials into finished products.

Process Costing

An accounting method used for homogeneous products, where costs are accumulated over a period and then allocated to units produced.

Conversion Cost

The combination of direct labor and manufacturing overhead costs, representing the costs to convert raw materials into finished products.

Conversion Costs

Costs required to convert raw materials into finished products, typically including direct labor and manufacturing overhead.