Which of the Following Exists When an Industry or Market

question 71

Multiple Choice

Which of the following exists when an industry or market has only one producer?

• A) competition
• B) oligopoly
• C) monopoly
• D) communism
• E) socialism

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Definitions:

Direct Sales

A business model where products or services are sold directly to customers, bypassing traditional retail channels.

Inspire

To fill with the urge or ability to do or feel something, especially to do something creative.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, traditionally identified as product, price, place, and promotion.

Stable

Firm, steady, or not prone to sudden changes or deterioration, often used to describe economic or environmental conditions.