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A
✔ monopoly
occurs when there is only one company that sells a product in a given market.
When competitors agree to sell a product for the same price instead of competing, this is called a
✔ trust
.
Both monopolies and trusts reduce
✔ competition
, which results in increased
✔ prices
for consumers.
A monopoly occurs when there is only one company that sells a product in a given market. When competitors agree to sell a product for the same price instead of competing, this is called a trust
. Both monopolies and trusts reduce competition
, which results in increased prices for consumers.
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