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Stella [2.4K]
3 years ago
5

Which economic term describes a situation where one company controls all the means of production of a product and can set its ow

n price?
History
2 answers:
LenaWriter [7]3 years ago
5 0
It would be the term "monopoly" that describes a situation where one company controls all the means of production of a product and can set its own price--these are outlawed in the United States. 
denis-greek [22]3 years ago
4 0
Monopoly describes a situation where one company controls all the means of production of a product and can set its own price
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