What Are the Main Features of a Monopoly

question 54

Essay

What are the main features of a monopoly?

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Definitions:

Labor Force

Persons 16 years of age and older who are not in institutions and who are employed or are unemployed and seeking work.

Agriculture

The practice of cultivating the soil, growing crops, and raising livestock for food, fiber, and other products.

Demographic Transition

The transition from high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system.

Mortality Rates

A measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time.