When one producer can supply total output in a market at a cost that is lower than when there are two or more producers, competition may be undesirable. In the absence of competition, government regulations may then be used to try to control price, output, and quality, or government may directly provide the good or service.
Standard detail
7.
Benchmark
Depth 1Parent ID: 9622E4689DBC48B9AEBAC9EBC5B59837Standard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 7.
- List ID
- 7.
- Standard ID
- 6383F17F714F42F28749B8BD84D55EC0
- ASN identifier
- S2604841
- Subject
- Economics
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 9622E4689DBC48B9AEBAC9EBC5B59837
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US