www.bbcnoun.com.ng ECO121 9/10 ----- have its influence on human behavior which determines their decisions in answering basic --------. Social institutions, economic problem The monopolist ------- price Fixes Thorough evaluation and rating of ----- from most valued to least valued is a required step in arriving at a ------- of what to produce. goods and services, decision In profit making, the monopolist profit could be -------- both in short and long runs Abnormal The demand curve facing the monoplist is ------- downward In an imperfect competitive market, monopoly stands out as a kind. Yes Pure monoplist is when the monopolist has ------ in the industry. large economies of scale Human wants are unlimited and ever dynamic due to ever changing ------ and needs for ------ which are limited. demands, resources There is the need to strike a balance between ------ and ----- human wants. scarce resources and limited, insatiable In Market economy, ----- are made by the ------- of market forces. decisions, invisible hand