2.7 Monopolies vocab Q

Individualism

Liberty

Populism

Egalitarianism

Laissez-Faire

A business that offers a wide variety of products.

A business that is the sole provider of a specific good or service.

A business that controls multiple stages of production.

A business that frequently merges with other companies.

Diversifying its product line.

Investing heavily in advertising.

Controlling the entire supply chain from production to retail. (Vertical Integration)

Offering products at extremely low prices.

Buying up all the competitors until there the only one left. (Horizontal Integration)

They are forced to lower prices due to competition.

They can set any price they choose, regardless of demand.

They offer discounts to attract more customers.

They are regulated by the government to ensure fair pricing.

They are constantly innovating to stay ahead of competitors.

They have little incentive to innovate or improve products.

They invest heavily in research and development.

They collaborate with other companies to develop new technologies.