Pursuit of Personal Profit-A Tenet of Capitalism Is the Belief

Pursuit of personal profit-a tenet of capitalism is the belief that people are free to maximize their individual gain through personal profit.In early monopoly capitalism,some stockholders derived massive profits from companies that held near monopolies on specific goods and services (such as the American Tobacco Company).In advanced (late)monopoly capitalism,profits have become even more concentrated (such as______________ Nike or Dell computer).3.Competition-in theory,competition acts as a balance to excessive profits.When producers vie with one another for customers,they must be able to offer innovative goods and services at competitive prices.In early monopoly capitalism,competition was diminished by increasing concentration____________________________within a particular industry (such as Standard Oil Company).An oligopoly exists when several companies overwhelmingly control an entire industry (such as the music industry).A shared monopoly exists when four or fewer companies supply 50 percent or more of a particular market (such the "Big Three" U.S.automobile manufacturers).