The situation in which one supplier thoroughly dominates a market and essentially shuts out other competitors is called monopoly.
Correct Answer:
Verified
Q13: Scarcity creates competition for resources,and forces trade-offs
Q14: Capitalism is a term used to describe
Q15: Deciding how much money to spend on
Q16: Global economists use the terms capitalism and
Q17: Macroeconomics studies economic behavior among consumers,businesses,and industries
Q19: Demand refers to the quantities of a
Q20: The equilibrium point is the point at
Q21: The study of a country's larger economic
Q22: _ is the spirit of innovation,the initiative,and
Q23: Which of the following is characteristic of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents