G202 EXAM 2 IU KREFT PRACTICE SCRIPT 2026 QUESTIONS WITH ANSWERS GRADED A+

G202 EXAM 2 IU KREFT CERTIFICATION
REVIEW SET 2026 QUESTIONS WITH
ANSWERS GRADED A+

⫸ How to gain market power Answer: manager's job is to attempt to
sustain any factors with limit competition


⫸ Market Strategies Answer: --Guarding trade secrets
--Control of an ESSENTIAL resource
--Exclusive contracts & customer lock-in
--Collusion (form a cartel & act like monopoly)


⫸ Guarding trade secrets Answer: do something others cannot, protect
that


⫸ Control of an ESSENTIAL resource Answer: De Beers--example:
diamonds, put diamonds in vault to control supply --> price


"essential" depending on industry


⫸ Exclusion contracts & customer lock-in Answer: revenue sharing
extended contracts

, example: coke & adidas on campus


example: extended cell phone contracts


⫸ Collusion (form a cartel and act as a monopoly) Answer: De Beers--
example:merge Coke & Pepsi


can price like monopoly


cannot bc its illegal (antitrust policy)


antitrust can be international if bus. has US interests


⫸ Non-Market Strategies: gov. & activits Answer: --Patent or copyright
protection
--Trade regulations
--Gov. licensing
--Gov. or NGO certification


⫸ Patent or Copyright protection Answer: act as monopoly for 20 years


gov. protection


⫸ Trade regulations Answer: blocks international competition