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dedylja [7]
3 years ago
11

The basic components of culture include

Advanced Placement (AP)
1 answer:
REY [17]3 years ago
5 0

Answer:

components of culture include symbols, language, values, beliefs and norms. Symbols may be either physical or non-physical.

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Answer:1. High Costs Scare Competition: One cause of natural monopolies are barriers to entry. This is usually as a result of high costs. Railroads are a well-known example.

2. Low Potential Profits Are Unattractive to Competitors: Potential profits are a key indicator to potential businesses. If monopolies are making small profits, it is not worth a competitor’s time and money to try and take a small share of the market.

3. Ownership of a key resource: Monopolies can arise when one business owns a key resource. These are generally physical resources, such as diamonds. For example, if there is only one diamond mine in the country, the business that owns it will be able to achieve a monopoly. This is how De Beers controlled the diamond industry throughout the 20th Century.

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7. Geographic Markets: Geographic monopolies can be characterised by the sole presence within a local market. For example, there may only be one restaurant in the local town. If you want a meal out, you may have to travel half an hour to the nearest restaurant. When considering the local market; it can be considered as a monopoly.

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