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Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price? a. monopoly b. capitalism c. anarchy d. sociali…

Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price? a. monopoly b. capitalism c. anarchy d. sociali…
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Which term refers to an economic situation where only one company makes a product and is therefore able to fix the selling price?

a. monopoly
b. capitalism
c. anarchy
d. socialism

User Kelkka
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1 Answer

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It would be the term "monopoly" that refers to an economic situation where only one company makes a product and is therefore able to fix the selling price, which is why such firms are often illegal in the United States.
User Adam Paquette
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