Answered: Which of the following is an advantage…

Which of the following is an advantage of socialist economy? a. Economic stability b. Bureaucratic expansion c. Presence of monopoly d. Maximization of profit

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter2: Economic Systems And The American Economy

Section: Chapter Questions

Problem 19AA

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Which of the following is an advantage of socialist economy? a. Economic stability b. Bureaucratic expansion c. Presence of monopoly d. Maximization of profit

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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