The Land You Own Has the Only Known Source of Aloe

question 130

Multiple Choice

The land you own has the only known source of aloe needed to make anti-itch lotion.In this case,your monopoly results from:

• A)government restrictions.
• B)location.
• C)sunk costs.
• D)ownership of scarce inputs.

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Definitions:

Industrial Unionism

A labor union organizing method where all workers in the same industry, regardless of their particular skills or trades, are organized into a single union.

Single Occupation

A career or job path focused on one particular area of expertise or profession.

Business Unionism

A model of labor relations where the main goal of the union is to secure better wages, hours, and working conditions, often through pragmatic dealings with employers.

Capitalist System

An economic system where private individuals own the means of production and operate for profit.