An Oligopoly Is a Market That Is Characterized by

question 253

Multiple Choice

An oligopoly is a market that is characterized by

• A) one seller that totally dominates the supply of the product.
• B) a large number of small companies all producing very similar products.
• C) a few large sellers who dominate the market.
• D) several small firms that compete primarily by differentiating their products.

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Definitions:

Drawee Bank

Drawee bank refers to the bank upon which a check or draft is drawn, responsible for paying the specified amount of money to the entity presenting the check for payment.

Payor Bank

A bank that is responsible for paying the check or draft drawn on the funds deposited in an account.

Unauthorized Signatures

Signatures made without the proper permission or authority, potentially voiding or bringing into question the validity of the document signed.

Alterations

Changes or modifications made to documents, clothing, property, or other objects, often requiring consent or agreement when concerning legal or contractual matters.