If a Firm Is the Sole Employer of a Factor

question 172

Multiple Choice

If a firm is the sole employer of a factor of production, it is known as

• A)a monopoly.
• B)a competitor.
• C)a monopsony.
• D)an economically discriminating firm.

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Definitions:

Intersection

in social science, refers to the study of how different categories of identity and systems of oppression or discrimination intersect and affect individuals.

Economy

Social arrangements that organize the production, distribution, and consumption of goods.

Monolithic Bias

The tendency to view a diverse group as more homogenous and uniform than it actually is.

Overcome

To successfully deal with or gain control of something difficult.