aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Consumer Rights and Responsibilities
  • How do monopolies harm consumers?
Multiple choice

How do monopolies harm consumers?

  1. They take away competition

  2. Companies can raise or lower prices all they want

  3. Answers 1 and 2

  4. They're good for consumers

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Monopolies harm consumers by eliminating competition and allowing the firm to control prices without market pressure, making both A and B correct.

Keep practicing — related questions

  • How does competition benefit consumers?
  • A firm under monopolistic competition advertises
  • Monopolies tend to become less efficient and less innovative over time. Comment: (a) Complacency takes over...
  • Principle: A manufacturer is liable to pay compensation to a consumer for any harm or damage caused due to ...
  • Which of the following are the rights of a consumer under Consumer Protection Act, 1986? I. Right to consum...
  • Section 2(1)(d) of the Consumer Protection Act, 1986 defines the term “consumer”. It says ‘consumer’ means ...
  • Habeas Corpus protects individuals from harming themselves or from being harmed by the judicial system.
  • Which of the following consumer grievance redressal agencies would handle consumer disputes amounting betwe...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Consumer Protection and Commerce (1192 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy