WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
A Game
|
|
|
A group of people fighting for workers rights
|
|
|
A business that controls an industry
|
|
|
When the government leaves businesses to grow uninterrupted
|
Detailed explanation-1: -A monopoly is a market structure where a single seller or producer assumes a dominant position in an industry or a sector. Monopolies are discouraged in free-market economies as they stifle competition and limit substitutes for consumers.
Detailed explanation-2: -Monopolies FAQs 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: -A monopolist refers to an individual, group, or company that dominates and controls the market for a specific good or service. This lack of competition and lack of substitute goods or services means the monopolist wields enough power in the marketplace to charge high prices.
Detailed explanation-4: -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-5: -An industry with a single firm, in which entry is blocked, is called a monopoly. A firm that sets or picks price depending on its output decision is called a price setter. A price setter possesses monopoly power.