Answer:
A monopoly is a market structure where there is only one supplier of a product and many buyers. An example of a monopoly is Microsoft; it is a price setter in the market. Abuse of monopoly power can occur when a firm dominates the market meaning no competitors within the industry. This abuse could be in form of limiting output or setting higher prices to benefit from supernormal profits . This therefore leads to less choice for consumers. Over time, monopolies can become less innovative because they do not have competition and causing the market to fail and be inefficient; the price mechanism fails to take into account all of the costs and/or benefits of providing and consuming a good.
Explanation:
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Plato believed that the state was more important than the individual. Therefore the correct option is 4th.
<h3>Who was Plato?</h3>
Plato was the Greek philosopher who wrote the book Republic who was the student of Socrates and he founded the Academy.
He describes in this Book The Republic that how the society should be run and believed that the state is more important than the individual.Therefore the correct option is 4th.
Learn more about Plato here:
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Answer:
Steer the economy away from the recession and towards growth
Explanation:
The monetary policy is the policy that adapts by the authority of the monetary. It depends on the interest rate that is payable on very short periods. There is another policy named fiscal policy that depends on government taxation and the borrowing of government. This policy manages the cycle of the financial swings such as the recession. The recession is for manipulation of the money supply.
Monetary economics provides economic insight into optimal crafting. The monetary policy is different from the fiscal policy.
