Reading Comprehension: Monopoly Meaning

Tea Act and Monopoly

• The Tea Act was enacted by the British Parliament in 1773 to give the East India Company a monopoly over the American colonies' tea market.
• This act aimed to enable the East India Company to sell tea at lower prices than its competitors in the colonies.
• American colonists were concerned that the East India Company would gain singular control over tea sales in the colonies due to this advantage.
• Prior to the Tea Act, the East India Company faced taxes upon tea arriving in England from India, coupled with tariffs when imported to America.
• The Tea Act eliminated these initial taxes, allowing the company to sell directly to the colonies without financial burdens.
• From the perspective of the colonists, the Tea Act imposed an unfair tax on tea sold by other companies, benefiting the East India Company and reinforcing its monopoly status.

This quiz focuses on understanding the term 'monopoly' through contextual reading. Participants will identify text that illustrates the concept of complete control over a market, specifically in relation to the British Tea Act of 1773. Engage with the material to enhance your comprehension skills.