ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As a medium of exchange
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As an indicator of debt
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As a store of value
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As a unit of accounting
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Detailed explanation-1: -An oligopoly is when a few companies exert significant control over a given market. Together, these companies may control prices by colluding with each other, ultimately providing uncompetitive prices in the market.
Detailed explanation-2: -The essence of an oligopolistic market is that there are only a few sellers. As a result, the actions of any one seller in the market can have a large impact on the profits of all the other sellers.
Detailed explanation-3: -Supporters of a capitalist system point to the higher production, greater wealth, and higher standard of living displayed by capitalist countries such as the United States.
Detailed explanation-4: -A market economy is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country’s individual citizens and businesses.