WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Are businesses that have total control over a sector of the economy, including prices
|
|
|
a tax a person is required to pay before he or she is allowed to vote.
|
|
|
prohibited Chinese immigration
|
|
|
Act of 1862 that permitted any citizen to claim 160 acres of public land
|
Detailed explanation-1: -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-2: -A monopoly is when one company and its product dominate an entire industry whereby there is little to no competition and consumers must purchase that specific good or service from the one company.
Detailed explanation-3: -Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
Detailed explanation-4: -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.