Which of the following statements is TRUE?
A) Monopolized economies tend to have more poverty and less economic growth.
B) Competitive market economies lead to higher prices for everyone.
C) Social prosperity is typically the result of government-created monopolies.
D) Business leaders in the United States are more self-interested than business leaders in lesser-developed nations.

Question

Quizplus · Accepted Answer

Monopolized economies tend to have fewer incentives for innovation and efficiency, and can result in higher prices for consumers. This can lead to less economic growth and more poverty. Competitive markets, on the other hand, tend to incentivize innovation and efficiency, leading to lower prices and more economic growth.

Which of the Following Statements Is TRUE