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The control of a commodity or service by a small number of large powerful companies is called?
Wiki User
∙ 13y ago
monopoly
Wiki User
∙ 13y ago
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What is monopoly in social studies?
The definition for the word monopoly in social studies is "exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices. "
What are monopolies and do economies benefit from them?
Exclusive control by one group of the means of producing or selling a commodity or service There is one of that product/service so they can charge what ever they want with out worrying about competitors.
What is a price floor?
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service.
What is monopoly and how price and output decisions taken under monopoly?
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
What is the meaning of monopolies?
Monopoly is the control of a commodity or service in a particular market or the manipulation of prices. The control is exclusive.
Is Information Technology a commodity?
Information Technology is not a commodity. Information Technology is a service and that is why in some global stock indexes, IT stocks are classified under the service sector.
What do you call a group of companies who join together to control the supply of a good or service?
dominators
What is the role of commodities traders?
The role of a commodity trader is to buy or sell commodity contracts on behalf of clients and then later charge them a commission for their service. A commodity trader can work as an individual or with a firm.
What is the term for something bought or sold?
Something bought or sold is a commodity. A commodity can be a service or goods (a product). There may be other terms in business that I'm not aware of, but commodity is the first that comes to my mind.
What reputable companies offer weed control service?
There are a great deal of companies that offer weed control services. It has to be specific to your area to understand what type of weed's you may be dealing with. Trying your local landscaper's and tried and true companies may be your best bet.
One company or a small group of cooperating companies having control of the supply of a product or service is known as a?
monopoly
What does service companies do in the music industry?
service companies provide service for company
