In Marketing, the Form of Competition That Occurs When Only

question 113

Multiple Choice

In marketing, the form of competition that occurs when only one firm sells the product is referred to as

• A) pure competition.
• B) a megopoly.
• C) an oligopoly.
• D) monopolistic competition.
• E) a pure monopoly.

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Definitions:

Environmental Uncertainty

The degree to which an organization lacks information about its external environment, making it difficult to predict future conditions and make informed decisions.

Organisational Designs

The process of shaping an organization’s structure, roles, and networks to effectively manage and coordinate activities towards achieving its objectives.

Flexibility

The ability to adapt to changing circumstances, adjust to new instructions or conditions, and remain effective in a variety of situations.

Customers

Individuals or entities that purchase goods or services produced by a business.