Question

The impact of monopolies on a free enterprise system is increased price of goods and less competition. True or False

Answer 1

True.

Monopoly is the existence of a single seller in the market.  

In a market with very few government restrictions, also known as Capitalism or Free Economy, he is the sole seller in his line of business and has no competition from others. The price is set by the seller and most of the terms and conditions are in his favour. Customers who need the particular goods or services, are forced to go to the monopolist.

Answer 2

Answer:

True

Explanation: