Social Studies

Question

A company that dominates the production of a specific good or service to the point of there being limited to no competition within the industry, is known as a
a. controlled producer
c. corporation.
b. cartel.
d. monopoly.

1 Answer

  • As a monopoly - D. A monopoly is characterized by exactly that - being a company that dominates the production of a specific good or service with little or almost no competition within its own industry. 

    There have been many such instances in the past where companies have had exclusive control over the market. 

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