A monopoly economic system or corporation discourages competition.
Definitions:
Labor Unions -
- Together, union members and management create and uphold a contract that ensures the benefits you value, such as reasonable pay hikes, cost-effective health insurance, job security, and a predictable schedule.
The American Dream -
- The American dream is the idea that everyone may achieve their own definition of success in a society where everyone has the opportunity for upward mobility, regardless of where they were born or what class they belonged to.
Monopoly -
- Total ownership or management of all supplies of commodities or services in a given market.
Capitalism -
- An economic system based on private ownership of the means of production and their use for profit is known as capitalism.
- Capital accumulation, competitive markets, the pricing system, private property, the recognition of property rights, voluntary exchange, and wage labor are key aspects of capitalism.
Explanation -
- Therefore, a monopoly economic system or corporation discourages competition.
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