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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. corporation B. tariff C. monopoly D. inflation
Monopoly describes a situation where one company controls all the means of production of a product and can set its own price.
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Asked 2/8/2016 4:25:00 PM
Updated 2/8/2016 4:51:16 PM
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Monopoly describes a situation where one company controls all the means of production of a product and can set its own price.
Added 2/8/2016 4:51:16 PM
This answer has been confirmed as correct and helpful.
Confirmed by yumdrea [2/8/2016 8:13:29 PM]
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