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which economic term describes a situation where one company controls all the means of production of a product and can set its own price?

A. inflation

B. corporation

C. tariff

D. monopoly

2 Answers

1 vote

Answer:

D

Explanation:

These are the definitions of each:

A.a general increase in prices and fall in the purchasing value of money.

B. a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.

C. a tax or duty to be paid on a particular class of imports or exports.

D. the exclusive possession or control of the supply or trade in a commodity or service.

Monopoly seems the most fitting.

User Shun
by
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3 votes

Answer:

I believe the answer is D


User Darius Jahandarie
by
7.7k points

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