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What purpose does competition serve in the free market?
to keep monopoly's from happening
What are agreements among companies to keep prices at a certain level?
Monopoly
Is an electricity company an example of monopoly?
Yes, it is more beneficial for the economy to have utilities as a monopoly, although they are considered as a 'natural' monopoly. Governments can nationalise the utility in order to maximise social welfare rather than maximise profit, this will keep prices low, keep output high and increase consumer surplus and consumer choice. Your welcome
The Open Door policy was an attempt to?
It was an attempt to keep trade open in China open to all nations.
Why do you think the British government granted a trade monopoly to the HBC on Vancouver island?
The British government granted a trade monopoly , because the colony's new governor , James Douglas wanted to keep the Americans out of the area. And the grants wanted to recreate the English system and the settlers were required to purchase land .. :)
How did the British attempt to keep industrial secrets from the US?
other countries copied their work
What did Britain do in order to keep industrial secrets from the US?
blockaded the u.s. from engaging in international trade
Why was Britain unable to keep industrial secrets away from other countries?
Workers would sneak away from Britain and sneak into other countries to share information and industrial secrets. Such as showing them how to build machines.
How did Britain keep the IR a secret from other countries such as the United States?
They did no such thing. The Industrial Revolution spread spontaneously.
How did unions attempt to achieve their goals in industrial era?
By bargaining with employers. Hence the term "Collective Bargaining." God Bless and Keep the Unions!
When was Keep Britain Tidy created?
Keep Britain Tidy was created in 1955.
When was Keep Britain Untidy created?
Keep Britain Untidy was created in 2000.
What purpose does competition serve in the free market?
to keep monopoly's from happening
Government has a monopoly on the legitimate use of force to keep order?
Yes they do.
What are agreements among companies to keep prices at a certain level?
Monopoly
Is an electricity company an example of monopoly?
Yes, it is more beneficial for the economy to have utilities as a monopoly, although they are considered as a 'natural' monopoly. Governments can nationalise the utility in order to maximise social welfare rather than maximise profit, this will keep prices low, keep output high and increase consumer surplus and consumer choice. Your welcome
What is the primary goal of both monopoly and a cartel?
To control competition and keep prices high
