A Monopoly

question 105

Multiple Choice

A monopoly:

• A)produces a product with no close substitutes.
• B)is composed of a single buyer and several sellers.
• C)is composed of a large number of small firms.
• D)is composed of a small number of large firms.

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Definitions:

Prejudice

Preconceived opinions or judgments toward individuals or groups without factual basis, often involving negative attitudes or discrimination.

Generalizations

Statements or conclusions made based on common characteristics that apply to a group or category rather than specific instances.

Stereotypes

Oversimplified, widely held fixed ideas or images about a particular type of person or thing.

Discrimination

Discriminatory behavior towards various groups of individuals, particularly based on race, age, gender, or disability.