A Market Where There Is Only a Single Buyer Is

question 305

Multiple Choice

A market where there is only a single buyer is called a(n)

• A) monopoly.
• B) monopsony.
• C) oligopoly.
• D) dominant firm.

---

Definitions:

Ethical Decision-making

The process of evaluating and choosing among alternatives in a manner consistent with ethical principles.

Decision-making Approach

A systematic process for making choices among various alternatives, often involving steps such as identifying a problem, generating options, and selecting a course of action.

Fairness

The quality of treating people equally or in a way that is right and just.

Justice

The concept of fair treatment and equitable distribution of benefits and burdens within society or an organization.