What are companies that have complete control over a particular product or industry?

Asked by maham237 @ in Business viewed by 307 People

What are companies that have complete control over a particular product or industry? Monopolies Oligarchies Capitalists All of the above

Answered by maham237 @


Answer: Monopolies

Explanation:

A monopoly is a market structure in which there is only one seller of a good. The seller has complete control over the market. He has the full ability to determine the price of his good. Entry in a monopoly market is completely restricted.

On the other hand, in a capitalist and oligopoly market structure there is some degree of price control but not full. The price depends on the price of the competitors.

Thus, monopolies is the correct option.


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