1: When we see a ball game between two teams, we are seeing sports live, and not on television. competition in action. a monopoly at work 2: In business, competition will provide disagreements and controversy. the best service at the best price. poor service at a poor price. 3: A group of businesses that have given control over their prices and selling practices to a small group of people is a stock. bond. trust. 4: Anti-trust laws have been passed to prevent trusts and monopolies. monopolies and franchises. trusts and franchises. 5: A board or commission will grant a public utility a ___, which is a contract between the government and the company. monopoly deed franchise 6: What makes each seller work to provide lower prices and better services to customers? corporation competition company 7: When one company has exclusive control over a service or product, it is a monopoly franchise corporation 8: Public utility boards or commissions are used by the federal government the state and federal government the local, state and federal government 9: Being an innovator, risk-taker, and businessperson are characteristics of a monopoly an entrepreneur a federal employee 10: Franchises give the utility the right to establish a monopoly control prices hire new employees