Question

match each business practice with the correct description or example (1 point)
situation where one company controls all or most of a market.
process of combining competing companies under one ownership.
process of controlling all steps in the production and distribution of a product.
monopoly
horizontal integration
vertical integration

Explanation:

• Monopoly: A monopoly is a market structure where one company controls all or most of a market. This is because in a monopoly, there is a single seller with significant market power.
• Horizontal Integration: Horizontal integration is the process of combining competing companies under one ownership. For example, if two rival clothing brands merge, it is horizontal integration as they operate at the same level (production of similar goods) in the industry.
• Vertical Integration: Vertical integration is the process of controlling all steps in the production and distribution of a product. For instance, a car manufacturer that also owns steel - making plants (raw material supply) and car dealerships (distribution) is vertically integrated.

Answer:

• "Situation where one company controls all or most of a market" matches "Monopoly".
• "Process of combining competing companies under one ownership" matches "Horizontal Integration".
• "Process of controlling all steps in the production and distribution of a product" matches "Vertical Integration".