A Market Structure with Only a Few Sellers, Each Offering

question 24

Multiple Choice

A market structure with only a few sellers, each offering similar or identical products, is known as

• A)oligopoly.
• B)monopoly.
• C)monopolistic competition.
• D)perfect competition.

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Definitions:

Federal Government

The national government of a country, which holds the primary authority over its states or provinces and is responsible for national policies and governance.

Economic Stability

A state where an economy experiences steady growth, moderate inflation, and low unemployment, indicating overall health and predictability.

Macroeconomic Policy

Strategies and actions undertaken by a government to regulate and control the economy as a whole, influencing overall economic indicators like inflation, unemployment, and economic growth.

Higher Education

The segment of tertiary education that follows secondary education, including universities, colleges, and other institutions offering degrees and vocational training beyond high school.