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What eliminates competition?

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Anonymous

12y ago
Updated: 8/19/2019

proggresives

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12y ago

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What eliminates competition among businesses?

Monopoly


Why does this situation seldom happen in market economie?

Competition eliminates shortages and surpluses by setting a market- clearing price.


When a company controls the entire market and eliminates it's competition it's called a?

Monopoly. A monopoly occurs when a single company dominates the market and has the power to set prices and control supply without facing significant competition.


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One advantage of a monopolistic trust are that prices can remain low. Disadvantages of monopolistic trusts is that it eliminates competition and can result in an unequal distribution of wealth.


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When the government eliminates some regulations it is known as?

When the Federal government eliminates certain regulations, it is called, "Deregulation".


How does competition increase?

1. Drives people to work harder and faster 2. Pushes people to improve their skills and knowledge 3. Encourages finding new and better ways of doing things 4. Eliminates unproductive or inefficient competitors


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