WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Complete control of a product or service.
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Partial control of a product or service.
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Total control, split between several different companies
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Go directly to jail, do not pass Go, do not collect $200.
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Detailed explanation-1: -plural monopolies. : complete control over the entire supply of goods or a service in a certain market. : complete possession. : a commercial product or service controlled by one person or company.
Detailed explanation-2: -A monopoly is defined as a single seller or producer that excludes competition from providing the same product. A monopoly can dictate price changes and creates barriers for competitors to enter the marketplace.
Detailed explanation-3: -A monopoly exists when one supplier provides a particular good or service to many consumers. In a monopolistic market, the monopoly, or the controlling company, has full control of the market, so it sets the price and supply of a good or service.
Detailed explanation-4: -A monopoly is a situation where there is only one owner of the firm. He has a full control over the prices of the product. He can do price discrimination as per his choice. Hence, in a monopoly market, the degree of control over price of the firm is full control.
Detailed explanation-5: -A monopoly exists when a person or business exercises complete control over a resource, industry, or market. During the 1800s and 1900s, two distinct types of monopolies developed: vertical and horizontal. In a vertical monopoly, the person or business controls the entire supply chain of an industry.