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Hey Gabby! I am currently having trouble in my economics class understanding the differences between monopolies and corporations
Corporation & Monopoly By: Gabby Elmore and Abby Fleck
Well I can help you with that. A corporation is a company or group of people that act as a single entity. A monopoly is when someone or something is the only supply of things.
I'm tired of standing
Me too. Let's go get something to eat so I can understand this better.
OK. Let's go!
So how could a corporation become a monopoly?
Hmmm. Good question, let me get out my economics book to help you.
A corporation can become a monopoly when there is no more competition. This would happen if there were no government regulations and if the other businesses went out of business.
Wow! So it really is that simple. I get it now. Thanks for the help Gabby!
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