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What is it called when a business is in compete control over the supply of a product?
Wiki User
∙ 6y ago
That's called a 'monopoly' - Since they are the only supplier of the product - they can fix the price.
Wiki User
∙ 6y ago
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What does a business have if they have complete control of the supply of a product?
A business that you have described here could be called a monopoly.
The economic policy of giving business total control of its development is called?
The economic policy of giving business total control of its development is called laissez-faire.
A market where a few large suppliers control the supply of a product is called?
Oligopoly.
Why are people important in the business environment?
A business can only run if there are people that can run a business these would be called the owner's, manager's ect... the business also need people to make the product with is the employee's. if there is going to be a product produce they need people to buy it customers (s). to make the Product the need raw materials e.g. paper, food ect... they need people to provide this which would be the suppliers. all of these people all come under a group called stakeholders and they our the blood of the business. no people no business. simple!! hope it help! :)
What is the official measure of economic growth called?
The official measure of economic growth is called Gross domestic product ( gdp) . I remember learning it in business
What does a business have if they have complete control of the supply of a product?
A business that you have described here could be called a monopoly.
What is a single business called if it has achieved exclusive control over a product or service?
Monopoly
What is the exclusive control of a product by a business called?
monopoly is a really fun game, lmfaoroflzlolteeheeahahahah.
What type of business produces a tangible product?
A business that produces a tangible product is called a manufacturing business.
Why is capitalism is called a free economy?
Producers are compete freely for consumers' business.
Why is capitalism called a free-market economy?
Producers are compete freely for consumers' business.
A business that purchases a product from another business to sell to customers is called a?
manufacturing business
When a control is required to control space or product temperature is called a what?
thermostat
What are some typical business strategies?
For merchandising businesses, when a business wants to enter an existing market with a new product, the appropriate strategy is called "product development", and when there is an existing product, the strategy is called "market penetration". When a business wants to create a new market with a new product, the strategy is called "diversification", and when a company wants to introduce an existing product onto a new market, the strategy is called "market development".
When business gains complete control of an industry it is called?
When business gains complete control of an industry it is called a monopoly. In the United States, monopolies are illegal by statute.
The economic policy of giving business total control of its development is called?
The economic policy of giving business total control of its development is called laissez-faire.
A business that is owned by stockholders is called?
State a business formed to manufacture or supply product for a profit
