Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price

Question

kenny6666 [7]

4 years ago

14

Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price

?
a. monopoly
b. capitalism
c. anarchy
d. socialism

History

2 answers:

ehidna [41] · Answer 1 · 2021-12-16T12:47:14+03:00

ehidna [41]4 years ago

8 0

the answer is a monopoly

ra1l [238] · Answer 2 · 2021-12-16T11:00:12+03:00

ra1l [238]4 years ago

6 0

It would be the term "monopoly" that <span>refers to an economic situation where only one company makes a product and is therefore able to fix the selling price, which is why such firms are often illegal in the United States. </span>