What Is Created When One Company Is Able to Supply

question 65

Multiple Choice

What is created when one company is able to supply all the goods or services needed by the marketplace?

• A) Communism
• B) Natural monopolies
• C) Marketplace shifts
• D) Monopolistic competition
• E) Oligopolies

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Definitions:

Interval Scale

The scale of measurement for a variable if the data demonstrate the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure. Interval data are always numeric.

Ratio Scale

The scale of measurement for a variable if the data demonstrate all the properties of interval data and the ratio of two values is meaningful. Ratio data are always numeric.

Nominal Scale

The scale of measurement for a variable when the data are labels or names used to identify an attribute of an element. Nominal data may be nonnumeric or numeric.

Ordinal Scale

A ranking scale used to measure variable where the order of values is significant, but the difference between values is not uniform.