A(n) _____ is the domination of a market by a few large producers or suppliers.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few large companies dominate the market, often resulting in limited competition and higher prices for consumers. Monopolies, on the other hand, occur when a single company dominates a market, while monarchies, anarchy, and autocracy are political systems that do not relate to market dominance. Therefore, the correct answer is option C) oligopoly. An oligopoly is a market structure in which a few large producers or suppliers dominate the market. These firms typically have significant market power, which allows them to control prices and limit competition. Oligopolies can arise in a variety of industries, including telecommunications, banking, and automotive manufacturing. In contrast, a monopoly occurs when there is only one dominant firm in a market, while a monarchy and autocracy are forms of government, and anarchy refers to a lack of government or authority. Therefore, the correct answer is C) Oligopoly.

A(n) _____ Is the Domination of a Market by a Few