When one company is able to control a product's supply and therefore its price it is considered a(n) ________.
A) state-owned company
B) monopoly
C) underground company
D) supply-driven company

Question

Quizplus · Accepted Answer

A monopoly is a situation where only one company or seller is able to control the supply of a product or service, leading to a lack of competition and allowing the company to set prices as high as they choose. This gives them an unfair advantage in the market and can lead to negative consequences for consumers.

When One Company Is Able to Control a Product's Supply