The Harrisons live in a country where they are the only business allowed to supply consumers with leather shoes. What type of economy is this an example of?

Question

Luka Cortez

English

27 April, 17:11

The Harrisons live in a country where they are the only business allowed to supply consumers with leather shoes. What type of economy is this an example of?

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Answers (2)

Know the Answer?

Arturo · Answer 1

Its D) Monopoly ... I think, ill change it if im wrong

Raegan Cortez · Answer 2

The type of economy that the Harrisons live in is a monopoly. A monopoly is when only one company offers a specific service or sells a specific product, in this case shoes. Since there is no competition, the seller has complete control over the price.