Answer
• A monopoly can raise prices indefinitely because of lack of competition.
• When monopolies are owned by for-profit organizations, prices become significantly high
Explanation
A monopoly is the main provider of goods and services to consumers thus they have no competition and no price restrictions. When they are not monitored and unregulated, they could adversely affect businesses, customers and the entire economy. A monopoly can set a price that remains the market price and the demand is always the market demand. When prices are high, users are not able to substitute the goods and services with an affordable alternative. In addition to that, a monopoly can shut down a business when it refuses to sell an important good to that company.
Inductive reasoning is the correct reasoning for the definition you have given. It is the opposite of deductive reasoning and apply the experiences/observations to a specific conclusion supported with evidence. Behavior, prediction, and forecasting are a list of examples that is involved in this kind of reasoning.
Let me know if you need anything else. :)
- Dotz
b. polis was the main political unit of aancient greece
Over the course of many years, the nations supporting the soldiers at the front lost their will to continue the war. Russia was the first to leave, but the rest of the Allies remained. The Central Powers left the fighting one by one, leaving only Germany to fight the Allies.
Bulgaria left the war, followed by the Ottoman Empire. The Turks were forced to accept terms that whittled their empire to approximately the borders of modern Turkey. The British took possession of Mesopotamia. Mustafa Kemal became the leader of Turkey. Kemal urged his people to modernize in order to strengthen his nation and keep any foreign powers from attacking in the future. In 1934, the Turkish assembly gave Mustafa Kemal the name Ataturk, or “Father of the Turks.”
The various ethnic groups within Austria-Hungary forced the empire to crumble. Many minorities deserted the Austro-Hungarian army and joined the Allied forces. By 1918, independence movements formed in Czechoslovakia, Poland, Yugoslavia, and Romania. Hungary left the empire at the end of the summer, followed by Austria. When the imperial government surrendered to the Allies, the empire no longer existed.
Germany was left alone to fight the Allies, but the weary German people had lost their strength. Strikes and civil disorder were common by 1918. Germany no longer had the industrial capability or the money to continue fighting. After months of negotiations, Germany and the Allied Forces agreed to end the fighting. On the eleventh hour of the eleventh day of the eleventh month of 1918, the fighting ended and the Western Front was quiet for the first time in more than four years.
