QUESTION 3 Which statement about monopolies is correct? They are mostly the product of the complex financial systems that only
developed at the end of the Middle Ages. They are very profitable for owners, but usually result in dissatisfied producers and consumers. The Portuguese were the only European power to avoid monopolies, finding them morally objectionable. Monopolies provide consumers with the lowest price possible, since a company with a monopoly does not have to worry about competition.
The correct answer is "they are very profitable for owners, but usually result in dissatisfied producers and consumers.
The reason for this is because a monopoly controls all commerce in that particular market. When a monopoly has control, it can decide what prices to sell its goods, and often leaves buyers/consumers dissatisfied.
Confucianism is the philosophy developed by the Chinese philosopher Confucius. His philosophy was all about how to treat people socially, and placed an emphasis on respect and manners.
