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How can a monopoly negatively affect a consumer?
A monopoly exists when a company obtains complete market power. With total power over the product the monopoly provides, it can raise the prices of products as it pleases, forcing the consumer to pay more for the goods it provides as these goods are not available anywhere else. This problem is avoided by government intervention, by which the government imposes a maximum or minimum price on the market, ultimately avoiding market failure.
How can freedom of choice effect the avalibilities of products and services for consumers?
We can choose the products and services that best suit our needs. If a product is not needed it will fade away because there isn't a demand. If a product or service is needed it will be copied giving the consumer more choices and creating competition. Consumer demand and the competition will dictate the price points for a product or service. To sum up the freedom of choice can cause a product or service to succeed or fail based on the demand of the market created by consumers.
What is public goods?
A shared good or service for which it would be impractical to make consumers pay individually and to exclude nonpayers Ex. Congress created the first national's park system
When the US buys more products than it sells from countries what is created?
foreign trade deficit
What is a product market?
Product market is the place where goods and services are created and sold by businesses. This does not include trading instead focuses on finished goods purchased by the public sector and foreign buyers.
When was Consumers Cigar Box Company created?
Consumers Cigar Box Company was created in 1936.
When was Sandstrom Products Company created?
Sandstrom Products Company was created in 1946.
When was Bacterol Products Company created?
Bacterol Products Company was created in 1930.
When was Gerber Products Company created?
Gerber Products Company was created in 1927.
When was Jasco Products Company created?
Jasco Products Company was created in 1975.
When was Omni Consumer Products - company - created?
Omni Consumer Products - company - was created in 2006.
When was All Metal Products Company created?
All Metal Products Company was created in 1920.
When was Eberhart Steel Products Company created?
Eberhart Steel Products Company was created in 1918.
What kind of products does Plow and Hearth sell to consumers?
Plow and Hearth sells consumers products for the home, hearth, lawn and garden. The products they sell are created from uncommon materials and usually handcrafted.
How did the advertising industry affect the role of the US in the world econmony?
Advertising created markets for goods by convincing consumers that they needed new products.
What commission was created in 1972 to protect consumers against hazardous products?
The Consumer Product Safety Commission.
Is westing paper products?
Westing Paper Products is a fictional company created by Ellen Raskin in her mystery novel "The Westing Game." It is not a real company.
